Question

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

Answer 1

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