Question

An old bicycle costs Rs 1500 and the overhead expenses are Rs500. If is sold at 5% profit,

then the profit amount is Rs ________​

Answer 1

Cost of old bicycle = Rs. 1500

Spends on repair of bicycle = Rs. 500

Selling price of old bicycle = Rs. 1800

Formula used:

Loss% = Loss/CP × 100

Calculation:

CP of old bicycle = (1500 + 500) = Rs. 2000

SP of old bicycle = Rs. 1800

Loss = Rs. (2000 – 1800)

⇒ 200

Loss% = 200/2000 × 100

⇒ 10%