Mahesh purchased an old scooter for ₹ 8000 and spent ₹2000 on his repairs . He sold it for ₹12000.How much percent did he gain or loss
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Given, Cost price =8000
Repair =520
New cost price =8520
Profit %=20%
Profit %=
cp
sp−cp
×100=20
⇒sp=cp+0.2cp
⇒sp=8520×1.2
sp=10,224 Rs.
He should sell the scooter for 10,224 Rs. to make a profit of 20%.
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