Ramesh purchased a bicycle for Rs.,5200 and spent Rs.,800 on its repairs. He had to sell it for Rs.,

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7.Profit and Loss

hard

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

D

None of these

Solution

$C.P.$ of the bicycle $=5200+800=₹ 6000$

$S.P.$ $=Rs. 5500 .$ since $S.P.$ $<$ $C.P.$

$\therefore \quad$ Loss $= C \cdot P \cdot- S.P. =6000-5500=Rs. 500$

$\therefore \quad$ Loss $\%=\frac{\operatorname{Loss} \times 100}{\text { C.P. }}=\frac{500 \times 100}{6000}$

$=\frac{25}{3} \%$ or $8 \frac{1}{3} \%$

Standard 13

Quantitative Aptitude

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