Question 51
A man purchased a bicycle for Rs 1040 and sold it for Rs 800. His loss per cent is 30%.
False
Cost price of the bicycle = Rs 1040
Selling price of the bicycle = Rs 800
∴ Loss = Cost price - Selling price = Rs 1040 - Rs 800 = Rs 240
Hence, loss % =LossCost price×100=2401040×100=2400104=23.07%