Question

A man purchased a bicycle for Rs. 1040 and sold it for Rs. 1000. His loss % is

Answer 1

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$cp \: of \: bicycle = 1040rs$

$sp \: of \: bicycle = 1040rs$

$loss\% = \frac{loss}{cp} \times 100$

$loss = 40rs$

$loss\% = \frac{40}{1040} \times 100$

$loss\% = 3.84%$

$hence \: there \: is \: a \: loss \: of \: 40\%$