Question
A motorbike was sold by a showroom for ₹ 80,000. The owner then sold this bike at ₹ 60,000. Find the percentage of profit or loss.
Answer: Option B
:
B
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:
B
As the selling price is less than the cost price, the owner incurred loss.
Loss = Difference in the amount for which it was purchased and the amount for which it was sold.
∴Loss=₹ 80000−₹ 60000 =₹ 20000
Percentage of loss=losscost price×100
=2000080000×100=25%
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