If a bicycle was bought for ₹ 650 and sold for ₹ 585, then the percentage of loss is -------

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Question 74In questions 60 to 79, state whether the statements are True or False.If a bicycle was bought for ₹ 650 and sold for ₹ 585, then the percentage of profit is 10 %.

Solution

False

Given, C.P. = ₹ 650 and S.P. = ₹ 585

Since, C.P. > S.P.

Loss = C.P. - S.P. = ₹ (650 - 585) = ₹ 65

Now,

$Loss\%=\frac{Loss}{C.P.}\times 100=\frac{65}{650}\times 100=10\%$

Mathematics

NCERT Exemplar

Standard VII