A motorbike was bought for ₹80,000 and then sold for ₹60,000. Find the profit or loss percentage.

20%

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25%

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30%

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35%

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Solution

The correct option is B
25%

Cost price of the motorbike = ₹80,000

Selling price of the motorbike = ₹60,000

As the selling price is less than the cost price, there is a loss
Loss = C.P - S.P

= ₹(80,000 - 60,000)
= ₹20,000

$loss Percentage = \frac{l o s s}{C o s t p r i c e} \times 100$
i.e. $\frac{20000}{80000} \times 100 = 25 %$

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