Ramesh bought 10 cycles for Rs. 500 each. He spent Rs 2,000 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
Correct Answer: |
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D) Loss of \( \Large 7\frac{1}{7}\% \) |
Description for Correct answer:
According to question,
CP of 1 cycle = Rs. 500
CP of 10 cycle = 500\( \times \)10 = Rs. 5000
Spent on repair = Rs. 2000
Now,
Total CP = 5000 + 2000
= Rs. 7000
SP of 5 cycle = 750\( \times \)5
=Rs. 3750
SP of 5 cycle = 550\( \times \)5
= Rs. 2750
\( \therefore \) SP of 10 Cycle
= Rs. 3750 + 2750 = 6500
Loss = CP - SP
Loss = 7000 - 6500 = 500
Loss % =\( \Large \frac{500}{7000} \times 100=\frac{50}{7} \)
= \( \Large 7\frac{1}{7}\% \)loss
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