Question

Mohan bought a refrigerator for Rs 25000, then spent Rs 500 on its repairs and sold it for Rs 23460. Find his loss or gain percent

Answer 1

Answer:

8%

Step-by-step explanation:

Aim: To find loss or gain percentage

Cost of refrigerator: Rs.25000

Cost of repairs: Rs.500

Thus, total cost of refrigerator: 25000 + 500 = 25500

Selling Price: 23460

Since Cost Price > Selling Price, it is a loss:

25500 - 23460 = 2040

Loss percent = $\frac{Loss}{CostPrice} * 100$

                      = $\frac{2040}{25500} * 100$

                      = $\frac{2040}{255}$       [cancelled the zero(s)]

                      = 8

Therefore, the loss percent is 8%

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