Question

Arun buys an old bicycle for Rs. 470 and spends Rs. 80 on its repairs. If he sells the bicycle for Rs. 580, his gain percent is:​

Answer 1

Answer :

5.45%

Explanation :

• C. P.(Cost price) of the bicycle ₹470
• Overheads = ₹80

Therefore, C. P. = 470 + 80 = ₹550

Now, it is sold in ₹580.

Since,

S. P. > C. P.

Therefore, it's a gain.

Gain = S. P. - C. P.

= 580 - 550

= 30

Gain% = gain × 100/C.P.

= 30 × 100/550

= 3,000/550

= 5.45%

Required answer : 5.45%

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Additional info :

• C. P. - Cost price.
• S. P. - Selling price.
• Gain = S. P. - C. P.
• Gain% = Gain × 100/C. P.