Question

Ramesh purchased a bicycle for Rs 5200 and spent Rs 800 on its repairs. He had to sell it for Rs 5500. Find out his profit or loss percent.

• A. $8\frac{1}{3}\%loss$
• B. $7\frac{1}{2}\%gain$
• C. $9\%gain$
• D. Insufficient data
• E. None of the above

Answer 1

The correct option is A $8\frac{1}{3}\%loss$

C.P. of the bicycle =5200+800=Rs 6000
S.P. =Rs 5500. Since S.P. < C.P.,
$\therefore$ Loss =C.P. -S.P. =6000-5500=Rs 500.
$\therefore$Loss % $=\frac{Loss\times 100}{C.P}=\frac{500\times 100}{6000}$
$=\frac{25}{3}\%$ or $8\frac{1}{3}\%$