Question

Mohit lost 18% by selling a bicycle for Rs 1230. What percent shall he gain or lose by selling it for Rs 1600?

• A. $6\frac{2}{3}\%loss$
  
• B. 4% gain
  
• C. $6\frac{2}{3}\%gain$
  
• D. 4% loss
• E. None of these

Answer 1

The correct option is C $6\frac{2}{3}\%gain$


Here, $S.P_1$. =Rs 1230, x = -18,
$S.P{.}_2$ = Rs 1600, y = ?
Using the formula,
$\frac{S.P_1}{100+x}=\frac{S.P{.}_2}{100+y}$
we get, $\frac{1230}{100-18}=\frac{1600}{100+y}$
$\Rightarrow 100+y=\frac{1600\times 82}{1230}=106\frac{2}{3}\Rightarrow y=6\frac{2}{3}\%$
Thus, Mohit has a gain of $6\frac{2}{3}\%\Rightarrow y=6\frac{2}{3}\%$ by selling it for Rs 1600.