Question

Mr.chawdary purchased a house fir rs 6.1 lakh and spent Rs30 000 on its repairs.He then sold it fir Rs 8 lakh.Find his gain percent
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Answer 1

Step-by-step explanation:

As we know that the profit% =(Profit*100)/CP

and Only Profit = SP-CP

where SP= Selling Price and

CP= Cost Price

now, in this question given that

the CP is 6.1 Lakh and spent 30000 rupes on its repairs, then sold it for 8 Lakh

So , 6.1 Lakh = 610000

and 8 Lakh = 800000.

now,

Total cost that spent for this house is purchase money + Repair money i.e 610000+30000=640000

and Selling Price is 800000

now we will apply the formula

Profit=SP-CP

800000-640000=160000

profit=160000

now Profit%=(Profit*100)/CP

=(160000*100)/640000

=16000000/640000

=25%

so the gain or profit % is 25 % (ans)