Question

If you have a 550 dollar bike and sell it for 1150 what is your profit in %

Answer 1

Answer: ~ 109.09%

Explanation:

To calculate the profit percentage, you can use the following formula:

Profit Percentage = [(Selling Price - Cost Price) / Cost Price] * 100

In this case:

Cost Price (original price of the bike) = $550

Selling Price (price at which you sold the bike) = $1150

Now, plug these values into the formula:

Profit Percentage = [($1150 - $550) / $550] * 100

Profit Percentage = ($600 / $550) * 100

Profit Percentage ≈ 109.09%

So, your profit percentage is approximately 109.09%.