Question

A man buys a cycle for Rs 1400 and sells it at a loss of 15%. What is the selling price of the cycle?
(a) Rs 1090
(b) Rs 1160
(c) Rs 1190
(d) Rs 1202

Answer 1

Hint: To solve this problem, we should know the basics of profit and loss. In this problem, we would subtract 15% of the original price (Rs 1400) from the original price to get the selling price of the cycle.

Complete step by step solution:
A man buying a cycle for Rs 1400 and selling it for loss of 15%.
 Now, we first calculate 15% of 1400. We have,
0.15 $\times$ 1400 = 210
Now, we subtract this from the original price to get the selling price, we get
Selling price = 1400 – 210 = Rs 1190
Hence, the correct option is (c) Rs 1190.

Note: A general method to solve problems related to profit and loss is to use this formula. We get –
Selling price = Original Price $(1\pm {\displaystyle \frac{r}{100}})$
Where, r is the profit/loss percentage. We use the positive sign when there is a profit question and negative sign is used when there is a problem on loss.