Question

A buys an old bicycle for Rs. $162$ and spends Rs. $18$ on its repairs. He then sells the bicycle for Rs. $207$; find his gain or loss as percent.

• A. Gain = 15$\%$
• B. Gain = 20$\%$
• C. Loss = 12$\%$
• D. Loss = 19$\%$

Answer 1

The correct option is A Gain = 15$\%$

Total Cost spent on bicycle $=Rs162+Rs18=Rs180$
Selling price of the bicycle $=Rs207$
Profit on the bicycle $=Rs207-Rs180=Rs27$
Profit % $=\frac{Profit}{CostPrice}\times 100=\frac{27}{180}\times 100=15$ %