Question

Arun purchased a house for rs.75000 and a site for rs.15000 respectively, if he sold the house for rs.83000 and the site for rs.10000, then find the resultant percentage of gain?

Answer 1

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Answer 2

Given:

Price of the house = Rs.75000

Site = Rs.15000

House is sold at Rs.83000

Site = Rs.10000

To Find:

The resultant % of the gain

Solution:

The total cost price of the house = Total fixed price + total variable price

                                                       = 75000 + 15000

                                                       = Rs.90000

The total fixed price and the total variable price are given, so the total cost price of the house is Rs.90000.

The total selling price of the house = cost + profit margin

                                                          = 83000 + 10000

                                                          = Rs.93000

The cost and profit margin are also given. Then, the total selling price is Rs.93000.

The resultant percentage of gain = Selling price - cost price

                                                       = Rs.93000 - Rs.90000

                                                       = Rs.3000

The formula for the percentage of profit is $\frac{Profit price}{cost price} *100$

the profit price is 3000 and the cost price is 90000.

Now, substituting the same in the formula.

The percentage of profit = 3000 × 100/90000

                                         = 3.34%.

Therefore the percentage of gain = 3.34%.