Question

a) Mr.Wilson bought a mountain bike for Rs 7,600 and sold it at 10% profit. If he had bought it for Rs 8,000, what would be his profit or loss percent?​

Answer 1

`5\%` loss.

Explanation:

`7600 * (1+10\%)`

`7600 * 1.1=8360`

`8000 * (1+10\%)`

`8000 * 1.1=8800`

His loss is Rs 440.

`(440 * 100)/(8800)`

`=5`

Answer 2

Profit %age = 4.5 %

Explanation:

Mr. Wilson bought the bike for = Rs 7,600

Profit %age = 10% of 7,600

Profit =
`(10)/(100)* 7600`

Profit = Rs 760

Amount in which the bike is sold = 7600 + 760 = Rs 8360

If Mr. Wilson had bought the bike for Rs. 8000 and sold it in the same amount,

So he would still be

having a profit of Rs. 360

How much Profit %age:

Profit % age =
`Profit * 100/CP`

Profit %age = 360 * 100 / 8000

Profit % age = 36,000 / 8000

Profit %age = 4.5 %