NIFT UG 2019 Question Paper with solutions

Question : 25 of 150

Marks: +1, -0

Ramesh bought 10 cycles for

₹ 500

each. He spent २ 2000 on the repair of all cycles. He sold five of them for

₹ 750

each and the remaining for

₹ 550

each. Then, the total gain or loss \% is

Solution:

Total actual

{CP}=

Cost of one cycle

\times

Number of cycles + Overhead expenses

=₹(500 × 10+2000)=₹ 7000

Total SP

=₹(5 × 750+5 × 550)

=₹(3750+2750)=₹ 6500

Loss

=7000-6500=₹ 500

Loss per cent

=\;{500}/{7000} × 100=\;{50}/{7}=7 \;{1}/{7} \%

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