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A man sells two bicycles at Rs. 5,000 each. If he sold one at a gain of 25% and on the whole there is neither profit nor loss, then another bicycle is sold at a loss of:1. 16.25%2. 20%3. 25%4. 16.67% |
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Answer» Correct Answer - Option 4 : 16.67% Given: Selling price of both bicycles = 5000 Percent profit earned on 1st bicycle = 25% Overall Profit/loss = No profit no loss or Total C.P = total S.P Formula used: Loss = Cost price – Selling price % loss = (loss/cost price) × 100 Cost price = 100/ (100 + a%) × selling price Where a% → percent profit Concept used: Profit/loss is always calculated on C.P Calculation: Total S.P of bicycles = 5000 + 5000 = 10000 % Profit earned on 1st bicycle = 25% C.P of 1st bicycle = 100/(100 + 25) × 5000 ⇒ (100/125) × 5000 ⇒ 4000 C.P of 2nd bicycles = 10000 – 4000 = 6000 Loss = Cost price – Selling price ⇒ 6000 – 5000 ⇒ 1000 % loss = (loss/cost price) × 100 ⇒ (1000/6000) × 100 ⇒ 100/6 ⇒ 16.67 ∴ The percent loss on 2nd bicycle is 16.67%. |
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