A shopkeeper bought a second-hand car for Rs 1,50,000. He spent Rs 10,000 on its painting and repair and then sold it for Rs 2,00,000. Find his profit or loss.
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cost price = 1,50,000+10,000=1,60,000
selling price = 2,00,000
profit = 2,00,000-1,60,000 = 40,000
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