Ramesh bought 10 cycles for 500 each. He spent 2000 on
the repair of all cycles. He sold five of them for 750 each
and the remaining for 550 each. Then, the total gain or
loss% is
Answers
There is a loss and the loss is 7.14%.
Explanation:
The C.P. of each cycle is 500 units.
∴ The C.P. of 10 cycles is (500 × 10) units
= 5000 units
∴ His total expenditure = (5000+2000) units
= 7000 units
The S.P. of 5 cycles = (750×5) units
= 3750 units
The S.P. of remaining 5 cycles = (550× 5) units
= 2750 units
∴Total S.P. = (3750+2750) units
= 6500 units.
6500<7000
S.P. <C.P.
Hence, there is a loss.
∴ Loss = (C.P. - S.P.)
= (7000 - 6500) Units
= 500 Units
∴ Loss % = (500/7000)×100
= (500×100)/7000
= 50/7
= 7.14 %
∴ The loss is 7.14%
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