Robert bought an old bicycle for ₹1,250 and spent ₹250 on its repair. He sold it for ₹1,470. What is his loss percentage?
Answer & explanation
Correct answer: option 4
Cost price of the bicycle = 1250
Spent = 250
Total cost price = 1250 + 250 = 1500
Selling price = 1470
Loss percentage = (1500 - 1470) × \(\frac{100}{1500}\) = 2%