Question

a man bough an old bicycle for rs.1250. he spent Rs.250 on its repairs. he then sold it for rs.1400. find his gain or los percentge

Answer 1

Man bought an old cycle for 1250rs..

so Purchase Price = 1250

amount spent on repairs = 250..

Cost Price = purchase price + amount spent on repairs

=1250+250

=1500..

Sold it for 1400..

Selling Price= 1400
..

Cost Price>selling price..

so.. there is a loss..


loss = cost price - selling price

=1500 - 1400

=100..


Loss Percentage=( loss /cost price)×100

=(100/1500)×100

=6.66%