Question

Harsha bought a bicycle for ₹ 4000. He spent ₹ 500 on maintenance and sold it for ₹ 6000. Find his loss/profit percent on selling this bicycle.

• A. $\frac{100}{3}$%
• B. $\frac{10}{3}$%
• C. $\frac{20}{3}$%
• D. $\frac{50}{3}$%

Answer 1

The correct option is A $\frac{100}{3}$%

The cost price of the bicycle will be the sum of cost price of the bicycle and the amount spent on maintenance. Hence,

Cost Price (C.P.) = ₹ (4000+500)= ₹ 4500.

Selling Price (S.P.)= ₹ 6000.

Profit =(S.P.)-(C.P.)= ₹ (6000-4500)=₹ 1500.

Profit% = $\frac{Profit}{C.P}\times 100\%$
Profit% =$(\frac{1500}{4500}\times 100)$%
Profit% =$\frac{100}{3}$%