Question

Hari purchased a bike at $\text{Rs.}55000.$ He sold it to his friend for $\text{Rs.}60500.$ What is the profit/loss $\%$ he made?

• A. Profit of 8%
• B. Profit of 10%
• C. Profit of 5%
• D. Loss of 10%

Answer 1

The correct option is B Profit of 10%

Given, $C.P.$ of bike $=\text{Rs.}55000$
$S.P.$ of bike $=\text{Rs.}60500$
Since, $C.P.<S.P.,$ so, a profit is incurred by Hari

which is equal to $S.P.-C.P.=60500-55000=\text{Rs.}5500$
Therefore, Profit $\%=\frac{S.P.-C.P.}{C.P.}\times 100=\frac{5500}{55000}\times 100=10\%$