Question

A pre-owned car show-room owner bought a second hand car for ₹1,50,000. He spent ₹20,000 on repair and painting, them sold it for ₹2,00,000. Find whether he gets profit or loss. If so, what percent​

Answer 1

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Given -

A pre-owned car show-room owner bought a second hand car for ₹1,50,000. He spent ₹20,000 on repair and painting, them sold it for ₹2,00,000. Find whether he gets profit or loss. If so, what percent.

To find -

Profit or loss with percentage (%)

CP of second hand car = Rs 150000

Additional expenses = Rs 20000

Total CP = 150000 + 20000

= Rs 170000

SP = Rs 200000

Hence he sold the car at a gain.

Gain = Rs 200000 - Rs 170000

= Rs 30000

To find gain (%) we apply the formulae

$\frac{profit}{CP} \times 100$

So Gain (%) =

$\frac{profit}{CP} \times 100 \\ = \frac{30000}{170000} \times 100 \\ = 17.64 \: \%$

Gain (%) is 17.64 %