Ojo bought a bicycle for #20,000, and repaired it at a cost of #5,000. He then sold the bicycle for #30,000
What was his net profit?
What was his net profit?
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Correct Answer: Option D
Explanation:
Net profit is the profit after expenses must have deducted
cost price 20000
expenses 5000
20000 + 5000 = 25000
sales price 30,000 - 25000 = 5000
Net profit is the profit after expenses must have deducted
cost price 20000
expenses 5000
20000 + 5000 = 25000
sales price 30,000 - 25000 = 5000