Question

A property dealer purchase for 500000 and spent RS 50,000 on repairing rupees 80000 on wood work and white was he sold it on rupees 700000 find out profit or loss percent

Answer 1

Answer:

Hopefully it helps

Step-by-step explanation:

Answer 2

Concept

When selling price and cost price are known, the basic formula for calculating profit is:

Profit = Selling Price (S.P.) – Cost Price (C.P.)

When the selling price and cost price are known, the basic formula for calculating the loss is:

Loss = Cost Price (C.P.) – Selling Price (S.P.)

Profit Percentage (P%) = (Profit/Cost Price) × 100

Loss percentage (L%) = (loss / cost price) × 100

Given

It is given that a property dealer purchase for 500000 and spent RS 50,000 on repairing rupees 80000 on wood work and he sold it on rupees 700000

Find

We need to find out profit or loss percent

Solution

Cost price = 5,00,000 + 50,000 + 80,000

Cost price(C.P)=Rs 6,30,000

Selling price(S.P)= Rs 7,00,000

S.P > C.P

Hence there is profit

Profit = S.P - C.P

= 7,00,000 - 6,30,000

= 70,000

Profit % = (Profit / C.P) * 100

=( 70,000/6,30,000)* 100

= 11.11%

Hence the profit % is 11.11%

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