A man purchased a bicycle for Rs 1,040 and sold it for Rs 800. His gain percent is 30%. Is the following statement true or false

Solution:

Gain = Selling Price - Purchase Price

Gain% = [Gain/Purchase price] × 100

In the given problem statement:

Gain = 800 - 1040 = -240

Hence there is a loss in this transaction and not gain.

Loss% = [240/1040] × 100

= 300/13

= 23 1/13 %

Hence the statement is False.

✦ Try This: A man purchased a bicycle for Rs 220 and sold it for Rs 231. His gain percent is 10%. Is the following statement true or false

Cost price = Rs. 220

Selling Price = Rs. 231

Gain = Rs. 231 - Rs. 220 = Rs. 11

Gain % = (11/220) × 100 = 5%

Hence the given statement is false.

☛ Also Check: NCERT Solutions for Class 8 Maths Chapter 8

NCERT Exemplar Class 8 Maths Chapter 9 Problem 51

A man purchased a bicycle for Rs 1,040 and sold it for Rs 800. His gain percent is 30%. Is the following statement true or false

Summary:

A man purchased a bicycle for Rs 1,040 and sold it for Rs 800. His gain percent is 30%. Hence the statement is false.

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