# to make a profit of 100% a bicycle must be sold for $240.what is the cost price of the bicycle?

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- Beverly SLv 74 weeks ago
120.00.....................................100% profit means double the original cost. 120.00 x 2 = 240.00

- STEVEN FLv 74 weeks ago
$0.00.

However wrote your homework question used the wrong base.

Profit % is calculated on the SALES price, not the acquisition price.

The answer your homework wants assumes profit of 100% of what the seller paid, that means they paid half of what they sold for. From there it is 2nd grade math.

Update: Whoever gave me the Thumbs Down never took a class in retail accounting. They also didn't READ the last half of my answer where I explained what the homework question was asking for.

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