A trader purchased on old bicycle for 480. He spent 20% of the cost on its repair. If he wants to earn 144 as net profit on it, how much percentage should he add to the purchase price of the bicycle? Choose the most appropriate option.
A) 50%
B) 48%
C) 96%
D) 100%
E) None of these
Purchase price = 480   Repair cost = 20% of 480 = 96   ∴ Total cost =480 + 96= 
<gadget id="calculator">480 + 96</gadget>
<output>576</output>
576   Net profit= 144   ∴ Selling price = Total cost + Net   profit= 576 + 144= 
<gadget id="calculator">576 + 144</gadget>
<output>720</output>
720   Now, Selling price - Purchase price= 720 – 480 = 240   ∴ Reqd percentage = 240⁄280 × 100 = 50%   50%nswer 50%
<result>A</result>
A trader purchased on old bicycle for 480. He spent 20% of the cost on its repair. If he wants to earn 144 as net profit on it, how much percentage should he add to the purchase price of the bicycle?