Profit and loss

Quantitative Aptitude (MTS)

Title

45:30

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38 of 100 completed

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Indian Economy - Understanding the basics of Indian economic system

Robert bought an old bicycle for Rs1,250 and spent Rs250 on its repair. He sold it for Rs1,470. What is his loss percentage?

This questions was previously asked in

SSC MTS 7th July 2022 Shift-2

- Robert initially bought the bicycle for Rs1,250.

- He spent an additional Rs250 on its repair, making the total cost Rs1,500.

- He then sold the bicycle for Rs1,470.

- The loss is calculated as the difference between the cost price and the selling price: Rs1,500 - Rs1,470 = Rs30.

- The loss percentage is calculated as: (Loss / Total Cost) * 100 = (30 / 1500) * 100 = 2%.

- Option 1: 4% - This is not the correct percentage.

- Option 2: 1% - This is also incorrect.

- Option 3: 3% - Not the right answer.

- Option 4: 2% - This is the correct choice.