3. Manoj bought a house for 56,78,500. He spent 65,000 more for renovation. He then sold it for 70,34,600. Find the profit or loss that he incurred.
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Given Mr. Virmani spent to purchase the house = Rs. 365000
Amount he spent on repair = Rs. 135000
Total amount he spent on the house (CP) = Rs. (365000 + 135000)
= Rs. 500000
Given SP of the house = Rs. 550000
Gain = SP – CP
= Rs. (550000 – 500000)
= Rs. 50000
Gain % = (Gain/CP) x 100
= (50000/500000) x 100
= 5000000/500000
Gain = 10%
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