Multiple choice

A buys an old bicycle for Rs. $162$ and spends Rs. $18$ on its repairs. He then sells the bicycle for Rs. $207$; find his gain or loss as percent.

  1. Gain = 15$\%$
  2. Gain = 20$\%$
  3. Loss = 12$\%$
  4. Loss = 19$\%$
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A Correct answer
Explanation

Total cost = 162 + 18 = 180. Selling price = 207. Gain = 207 - 180 = 27. Gain percent = (27/180) * 100 = 15%.

AI explanation

The total effective cost price is the purchase price plus repairs, which is 162 + 18 = Rs. 180. Using the gain percentage formula, ((207 - 180) / 180) * 100 equals (27 / 180) * 100. This results in a gain of 15%.

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