Question

a man purchased a bicycle for Rs 1040 and sold it for Rs 800. his gain percent is 30%. true or false prove your answer

Answer 1

the given statement was wrong
because
gain means the selling price should be more than the cost price . but here the cost price is more than selling price . hence we can say it is loss

Answer 2

false, he had a loss
1040-800
=240
 therefore, his percentage loss is
=240/100
=2.4%