percentage loss

Would I be right in saying 6/144 * 100% = 4.17%
Therefore Answer A 4%?

Mathsbuddy wrote:Would I be right in saying 6/144 * 100% = 4.17%
Therefore Answer A 4%?

Or...

144+6 = Original value of all bikes = 150

6/150 * 100% =4% exactly
Therefore Answer A 4%

I reckon it is this latter reason, although the multiple choice would have given the same answer.
Any comments anyone?

@Mathsbuddy:

The second explanation is correct but the first one is fundamentally wrong.

If we assume that every cycle's Selling price was $1 then the Total revenue earned is $144 and the loss is $6 therefore the Total cost = 144+6 = $150

Therefore, Loss% = [Total S.P.-Total C.P.]*100/Total C.P. = (150-144)*100/150 = 6*100/150 = 4% ANSWER

@Mathsbuddy:

The second explanation is correct but the first one is fundamentally wrong.

If we assume that every cycle's Selling price was $1 then the Total revenue earned is $144 and the loss is $6 therefore the Total cost = 144+6 = $150

Therefore, Loss% = [Total S.P.-Total C.P.]*100/Total C.P. = (150-144)*100/150 = 6*100/150 = 4% ANSWER[/quote]