When a dealer sells a bicycle for N81 he makes a profit of 80%. What did he pay for the bicycle?
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Correct Answer: Option C
Explanation:
Profit = 8%
\(\therefore S.P = N81 = (100 + 8)% = 108%\)
\(108% = N81\)
\(100% = \frac{81}{108} \times 100\)
= \(\frac{8100}{108} = N75\)
Profit = 8%
\(\therefore S.P = N81 = (100 + 8)% = 108%\)
\(108% = N81\)
\(100% = \frac{81}{108} \times 100\)
= \(\frac{8100}{108} = N75\)