[10%] A man bought an old bicycle for Rs. 1,500. He spends Rs. 500 on its repair and sells it forRs. 1

For Competitive Exams

A man bought an old bicycle for Rs. 1,500. He spends Rs. 500 on its repair and sells it for
Rs. 1,800. Find the percentage of his loss.

10%

15%

20%

Explanation:
Cost Price C.P=Rs.1,500
RepairingPrice=Rs.5,00
Total NewCostPrice NC.P=Rs.2,000
SellingPrice S.P=Rs.1,800
Formula:Loss%=$\dfrac{Loss\times 100}{NC.P}$
=$\dfrac{200 \times 100}{2000}$
=$\dfrac{20000}{2000}$
=10%

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