Arun buys an old bicycle for Rs. 470 and spends Rs. 80 on its repairs. If he sells the bicycle for Rs. 580, his gain percent is:​

1 thought on “Arun buys an old bicycle for Rs. 470 and spends Rs. 80 on its repairs. If he sells the bicycle for Rs. 580, his gain percent is:​”

1. Answer :

   5.45%

   Explanation :

   • C. P.(Cost price) of the bicycle ₹470
   • Overheads = ₹80

   Therefore, C. P. = 470 + 80 = ₹550

   Now, it is sold in ₹580.

   Since,

   S. P. > C. P.

   Therefore, it’s a gain.

   Gain = S. P. – C. P.

   = 580 – 550

   = 30

   Gain% = gain × 100/C.P.

   = 30 × 100/550

   = 3,000/550

   = 5.45%

   Required answer : 5.45%

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   Additional info :

   • C. P. – Cost price.
   • S. P. – Selling price.
   • Gain = S. P. – C. P.
   • Gain% = Gain × 100/C. P.

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