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Question
If a bicycle was bought for ₹ 650 and sold for ₹ 585, then the percentage of profit is 10.
Options
True
False
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Solution
This statement is False.
Explanation:
Given, C.P. = ₹ 650 and S.P. = ₹ 585
Since, C.P. > S.P.
Loss = C.P. – S.P. = 650 – 585 = ₹ 65
Now, Loss% = `"Loss"/"C.P." xx 100 = 65/650 xx 100 = 10%`
Hence, the percentage of loss is 10%.
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