Question

ashraf purchased an old bike for ₹ 73500. He spent ₹10300 on repairs and paid ₹2600 for its insurances. Then he sold it to shrafat for ₹84240.What was his gain or loss per cent

Answer 1

old bike cost=73500
money spent on repairs=10300
money paid for insurance=2600
sold=84240
the total money he spent on the bike=73500+10300+2600=86400
As the amount which he spent is more than the amount he got from selling the bike thus in this case ashraf is in loss
loss=86400-84240=2160

Answer 2

cost price of bike = rs73500+rs10300+rs2600
= rs86400
selling price of bike = rs84240
since selling price < cost price
it is a loss
Loss%= loss price / cost price ×100
Loss price = 86400 - 84240
= 2160
loss%=2160/86400×100
=2.5
loss% =2.5%