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7.Profit and Loss
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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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