Shyam bought a bike for ₹70,000 and sold it to his friend Ram at ₹50,000. Determine if Shyam has made a profit or a loss and by how much?

Loss of ₹20,000

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Profit of ₹10,000

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Loss of ₹5,000

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Loss of ₹15,000

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Solution

The correct option is A Loss of ₹20,000
CP = ₹70,000,
SP = ₹50,000
Since , SP < CP
Shyam has made a loss in this deal.
Now,
Loss = CP - SP
= 70,000 - 50,000
= 20,000
So, Shyam suffers a loss of ₹20000

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Shyam bought a bike for ₹70,000 and sold it to his friend Ram at ₹50,000. Determine if Shyam has made a profit or a loss and by how much?

The correct option is A Loss of ₹20,000CP = ₹70,000, SP = ₹50,000 Since , SP < CP Shyam has made a loss in this deal. Now, Loss = CP - SP = 70,000 - 50,000 = 20,000 So, Shyam suffers a loss of ₹20000

The correct option is A Loss of ₹20,000
CP = ₹70,000,
SP = ₹50,000
Since , SP < CP
Shyam has made a loss in this deal.
Now,
Loss = CP - SP
= 70,000 - 50,000
= 20,000
So, Shyam suffers a loss of ₹20000