Question

A boy an old bicycle for $Rs.162$ and spends $Rs.18$ on its repairs before selling the bicycles for $Rs.207$. Find his gain or loss percent.

Answer 1

Buying price of the old bicycle $=Rs162$
Money spent on repairs $=Rs18$
Real $C.P.$ of the bicycle $=162+18=Rs180$
$S.P.$ of the bicycle $=Rs207$
Profit $=S.P.-C.P.=207-162=Rs45$
Gain $\%=\frac{Profit}{C.P.}\times 100=\frac{45}{180}\times 100=\frac{100}{4}=25\%$