Question

A motorbike was sold by a showroom for ₹ 80,000. The owner then sold this bike at ₹ 60,000. Find the percentage of profit or loss.

• A. 20%
• B. 25%
• C. 30%
• D. 35%

Answer 1

The correct option is B

25%

As the selling price is less than the cost price, the owner incurred loss.

Loss = Difference in the amount for which it was purchased and the amount for which it was sold.

$\therefore \text{Loss}=₹80000-₹60000=₹20000$

$\text{Percentage of loss}=\frac{\text{loss}}{\text{cost price}}\times 100$

$=\frac{20000}{80000}\times 100=25\%$