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 1260
E. Rs 1290

Check Answer

The correct answer is “Rs 1190”

Step by Step Solution:
Given: A man buying a cycle for Rs 1400 and selling it for a loss of 15%.
Find: Selling price?

We know that cost price is the price at which we bought any item, while selling price is the price at which we sold any item.

Now, let’s calculate loss which is 15% of the actual price or buying price of 1400

\frac{15}{100}\ of\ 1400\ =\ \frac{15}{100}\times1400

Loss Amount ⇒ 0.15 × 1400 = RS. 210

According to the loss formula now we can find the selling price

Loss = cost price – selling price
so selling price would be
⇒ Selling price = cost price – loss

By putting values, we get

Selling price = RS. 1400 – RS. 210

⇒ Selling price = RS. 1190

Hence, the selling price of the cycle is RS. 1190.

Note: You can also use this formula

\text { Selling price = Original Price }\left(1 \pm \frac{r}{100}\right)

Where “r” is the profit/loss percentage, and + sign is used when profit% is given while the -sign is used when loss% is given.
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