ram buys an old house for rupees 300000. He spent rupees 20 %on its repair and sells it at 450000. find his gain or loss percent
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Answer:
Cost Price of the house bought by Ram = rupees 300000
Money spent by him on the repair of house = 20% of cp
Since, Total CP= Cost Price + Overhead expenses
= ₹300000+20/100×₹300000
₹300000+₹60000
=₹360000
CP < SP
SP (Selling Price) of the house = ₹450000
Therefore profit gained by them = SP - CP
₹450000 -₹360000=₹90000
Gain%=gain/CP ×100
=₹90000/₹360000×100
1/4×100=25%
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