manoj bought an iron safe for ₹ 5580 and paid ₹ 170 for its transportation then he sold it for ₹ 6440 find the gain percentage earned by him
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Given:
cost of safe= Rs 5580, cost of transportation= Rs 170
selling price= Rs 6440
To find: Gain percentage earned by Manoj
Solution:
We know that the formula for profit(gain percentage) is:
(selling price) - (cost price) × 100
(cost price)
cost price = cost of safe + cost of transportation
cost price = 5580 + 170 = 5750
putting the values in the formula we have:-
(6440)-(5750) × 100 = 12%
5750
Hence the profit(gain percentage) is 12%
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