Correct Answer - Option 1 : 10%
Given:
Cost of old bicycle = Rs. 1500
Spends on repair of bicycle = Rs. 500
Selling price of old bicycle = Rs. 1800
Formula used:
Loss% = Loss/CP × 100
Calculation:
CP of old bicycle = (1500 + 500) = Rs. 2000
SP of old bicycle = Rs. 1800
Loss = Rs. (2000 – 1800)
⇒ 200
Loss% = 200/2000 × 100
⇒ 10%
∴ The percentage of his loss is 10%