When a dealer sells a bicycle for N81 he makes a profit of 8%. What did he pay for the bicycle?
- N73
- N74.52
-
N75
- N87.48
- N75.52
The correct answer is: C
Explanation
Profit = 8%
\(\therefore S.P = N81 = (100 + 8)% = 108%\)
\(108% = N81\)
\(100% = \frac{81}{108} \times 100\)
= \(\frac{8100}{108} = N75\)