Correct Answer - Option 4 : 16.66%
Given:
The cost price of bike = Rs. 44,000
Spent on repairs = Rs. 4,000
The selling price of bike = Rs. 56,000
Concept used:
P = S.P – C.P
P% = (P/C.P) × 100
Where,
P → Profit
S.P → Selling price
C.P → Cost price
Calculations:
The cost price of bike = Rs. 44,000
Spent on repairs = Rs. 4,000
Total cost of the bike = 44,000 + 4000 = Rs. 48,000
The selling price of bike = Rs. 56,000
Gain = 56000 – 48000 = 8000
Gain% = 8000/48000 × 100 = 16.66%
∴ The profit percentage is 16.66%.
