Ramesh bought 10 cycles for Rs. 500 each. He spent Rs. 2,000 on the repair of all cycles. He sold five of them for Rs. 750 each and the remaining for Rs. 550 each. Then the total gain or loss % is
1
Gain of \(8 \dfrac{1}{3}\%\)
2
Loss of \(8 \dfrac{1}{3}\%\)
3
Gain of \(7 \dfrac{2}{3}\%\)
4
Loss of \(7 \dfrac{1}{7}\%\)