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%.