Question

Ishan bought a second-hand bike for ₹25000 and spent ₹5000 on its repair. He then sold it for ₹35000. What is his profit % or loss %?

• A. 20% Gain
• B. 22.5% Loss
• C. 17.5% Loss
• D. 16.66% Gain

Answer 1

The correct option is D

16.66% Gain

Given, the cost Price of the bike = ₹25000

Repairing cost = ₹5000

Total cost price of the bike = given Cost Price + Repairing Cost

= 25000+5000 = ₹30000

Selling Price = ₹35000

Since, Selling Price (S.P.) is more than the Cost Price (C.P.), a profit is made.

$\Rightarrow$ Profit = S.P. - C.P.
= 35000 - 30000 = ₹5000

$\text{Profit \%}=\frac{\text{Profit}}{\text{C.P.}}\times 100=\frac{5000}{30000}\times 100=16.66\%$

Therefore, there is a Profit of 16.66 %.