Question

Madam purchased an old scooter from a mechanic for ₹ 11000 and spent ₹ 600 on its repairs he than sold it for ₹12992 how much percent did he loss or gain

Answer 1

• Madam is gaining 12% after solding old scooter.

Step-by-step explanation:

To find:-

• How much percent did he loss or gain.

Solution:-

Given that,

• Madam purchased a old scooter of Rs.11000 and spent Rs.600 on its repairing.
• Madam sold old scooter of Rs.12992 .

Cost price = Rs.11000 + 600 = Rs.11600 .

Selling price = 12992

• Selling price is greater than cost price. So, Madam is getting profit or we say gain.

Gain = Selling price - Cost price

= 12992 - 11600

= 1392

Madam is gaining Rs.1392.

Gain percent = Gain/Cost price × 100

➝ 1392/11600 × 100

➝ 139200/11600

➝ 12

Therefore,

Madam is gaining 12% after solding old scooter.

Answer 2

Given :

• Madam purchased an old scooter from a mechanic for ₹ 11000

• spent ₹ 600 on its repairs he than sold it for ₹12992

To Find :

• how much percent did he loss or gain

Solution :

Concept :

Cost Price

• Cost price is the total amount of money that it costs a manufacturer to produce a given product or provide a given service.

• Cost price is often considered sensitive information that the manufacturer wants to protect from both customers and competitors.

Cost Price and Selling Price

• Cost price (CP) is the price at which an article is purchased.

• Selling price (SP) is the price at which an article is sold.

Profit and Loss

• If selling price is more than cost price, profit(gain) occurs.

• If selling price is less than cost price, loss occurs.

In case of profit,

• profit = selling price - cost price

• selling price = cost price + profit

• cost price = selling price - profit

In case of loss,

• loss = cost price - selling price

• selling price = cost price - loss

• cost price = selling price + loss

First Total Cp :

Total Cp = 11000 + 6 00

Total Cp = ₹11600

profit = selling price - cost price

Substitute all values :

Profit = 12992 - 11600

• Profit = ₹1392 There is profit

Profit % = ( profit / cost price ) 100

Substitute all values :

P% = (1392 / 11600) 100

P% = 139200 / 11600

P% = 1392 / 116

P% = 12%

• Hence the profit 12%