The cost of 21 bicycles is equal to the selling price of 20 bicycles. What is the loss or profit percentage in the selling of one bicycle?
Answer & explanation
Correct answer: option 4
Cost of 21 bicycles = Selling price of 20 bicycles
\(\frac{CP}{SP}\) = \(\frac{20}{21}\)
Profit % = 1 × \(\frac{100}{20}\) = 5%