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A boy sold his bicycle for $2400 and earned 20% profit. What was the original price (the price without the profit) of the bicycle?
  1. 1940
  2. 1960
  3. 1980
  4. 2000
Explanation
  • Selling Price (SP) = $2400
  • Profit = 20%
  • SP = 120% of the Cost Price (CP)

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A boy sold his bicycle for $2400 and earned 20% profit. What was the original price (the price without the profit) of the bicycle?
  1. 1940
  2. 1960
  3. 1980
  4. 2000
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