Question

Ramesh bought 10 cycles for Rs. 500 each. He sold five of them for Rs. 750 each and the remaining for Rs. 550 each. Then the total gain or loss percentage is:

a. 20% gain
b. 10% gain
c. 5% loss
d. 10% loss

Answer 1

To find the total gain or loss percentage, calculate the total cost and total selling price of the cycles. Ramesh bought 10 cycles for Rs. 500 each. He sold 5 for Rs. 750 each and the remaining for Rs. 550 each. The total gain or loss percentage is a. 30% gain.

Step-by-step explanation:

To find the total gain or loss percentage, we need to calculate the total cost and total selling price of the cycles. Ramesh bought 10 cycles for Rs. 500 each, so the total cost is 10 cycles x Rs. 500 = Rs. 5000. He sold 5 of them for Rs. 750 each and the remaining 5 for Rs. 550 each, so the total selling price is 5 cycles x Rs. 750 + 5 cycles x Rs. 550 = Rs. 3750 + Rs. 2750 = Rs. 6500.

Now, we can calculate the gain or loss percentage using the formula:

Gain or Loss Percentage = ((Total Selling Price - Total Cost) / Total Cost) x 100

Substituting the values, we get: ((Rs. 6500 - Rs. 5000) / Rs. 5000) x 100 = 30% gain.

Therefore, the correct answer is a. 30% gain.