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# If a bicycle was bought for ₹650 and sold for ₹585, then the percentage of profit is10. State whether the statement is true or false

**Solution:**

If a bicycle was bought for ₹650 and sold for ₹585, then the percentage of profit is 10.

We have to determine if the given statement is true or false.

According to the question,

CP = ₹650

SP = ₹585

Since CP > SP, it is loss

Loss = CP - SP

= 650 - 585

= ₹65

We know, Loss% = Loss/CP × 100

= 65/650 × 100

= 1/10 × 100

= 10%

Therefore, loss% = 10%

**✦ Try This: **If a motorcycle was bought for ₹12050 and sold for ₹10585, then the percentage of profit is15. State whether the statement is true or false.

**☛ Also Check: **NCERT Solutions for Class 7 Maths Chapter 8

**NCERT Exemplar Class 7 Maths Chapter 7 Problem 74**

## If a bicycle was bought for ₹650 and sold for ₹585, then the percentage of profit is10. State whether the statement is true or false

**Summary:**

The given statement,”If a bicycle was bought for ₹650 and sold for ₹585, then the percentage of profit is 10” is false.

**☛ Related Questions:**

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- Amount received after depositing ₹800 for a period of 3 years at the rate of 12% per annum is ₹896. . . . .

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