Ramesh gains 5% by selling his old scoter for Rs. 6720. If he sells it for Rs. 6500, Find his gain or loss percent.
Given gain% = 5%
selling price of scooter = Rs 6720.
We know gain % = SP−CPCP×100
5100=SPCP−1
1+0.05=SPCP
CP= 6720/1.05=6400 Rs
now if selling price = 6500 Rs
then gain = SP-CP=6500-6400= 100 Rs
and gain % = gainCP×100=1006400×100
gain = 1.56%