A man buys a cycle for ₹ 1,400 and sells it at a loss of 15%. What is the selling price of the cycle?
[amp_mcq option1=”₹ 1,190″ option2=”₹ 1,160″ option3=”₹ 210″ option4=”₹ 1,180″ correct=”option1″]
This question was previously asked in
UPSC CBI DSP LDCE – 2023
The cycle is sold at a loss of 15%.
The amount of loss is 15% of the cost price.
Loss amount = 15% of ₹ 1,400 = (15/100) * 1400 = 15 * 14 = ₹ 210.
The selling price (SP) is the cost price minus the loss.
SP = CP – Loss amount = ₹ 1,400 – ₹ 210 = ₹ 1,190.
Alternatively, the selling price can be calculated directly as CP * (1 – Loss%/100).
SP = 1400 * (1 – 15/100) = 1400 * (85/100) = 14 * 85 = ₹ 1,190.