alleryA vendor bought a cycle for ₹2,500 and sold it for ₹3,000. What is his profit percentage?
A$25\%$
B$20\%$
C$16.67\%$
D$15\%$
Answer & Solution
Correct answer: B. $20\%$
Profit % = (3000 − 2500)/2500 × 100 = 500/2500 × 100 = 20%.
Dividing by SP (16.67%) is the classic trap.
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