Question: Ramesh bought 10 cycles for Rs. 500 each. He spent Rs. 2000 on the repair of all cycles. He sold five of them for Rs. 750 each and the remaining for Rs. 550 each. Then, the total gain or loss % is
Options:
A) $ Gainof8\frac{1}{3}% $
B) $ Lossof8\frac{1}{3}% $
C) $ Gainof7\frac{2}{3}% $
D) $ Lossof7\frac{1}{7}% $
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Answer:
Correct Answer: D
Solution:
- Given, cost price of 1 cycle = Rs. 500
$ \therefore $ Cost price of 10 cycles $ =500\times 10=Rs.5000 $
But Ramesh spent Rs. 2000 on the repair
$ \therefore $ Entire cost price $ =5000+2000=Rs\text{. 7000} $
Now, (for 5 cycles) selling price of 1 cycle = Rs. 750
$ \therefore $ Selling price of 5 cycles $ =750\times 5=Rs\text{. 3750} $
and (for remaining 5 cycles)
Selling price of 1 cycle = Rs. 550
$ \therefore $ Selling price of five cycles $ =550\times 5=Rs\text{. 2750} $
So, entire selling price $ =3750+2750=Rs\text{. 6500} $
Loss = Cost price $ - $ Selling price $ =7000-6500=500 $
$ \text{Loss }%\text{ =}\frac{500}{7000}\times 100=\frac{50}{7}=7\frac{1}{7}% $
BETA
