Question

Ramaiya purchased a second hand Scooter for rupees 2000 and paid 2% Commission to the middleman and spend rupees 1230 painting the scooter and sold it for rupees 4000 what will he Incur for profit or loss give reason

Answer 1

Total cost = purchase price + commission + painting

2000+ 2%(2000)+ 1230

Rs.3270

Selling price = Rs.4000

Selling price > Cost price

Therefore , it is a profit

Profit = Selling price - cost price

Rs.4000-Rs 3270

Rs.730

Profit % = profit/ cost price × 100

(Rs.730/Rs.3270) × 100

Profit % = 22.34%

Answer 2

hello here is your answer

as we all know that whenever we buy any asset then all monkey we spent on it till it starts working will be said to be as it's price

so

cost of scooter = 2000 + 40 + 1230

= ₹ 3270

selling price = ₹4000

as sp > cp so there is profit

profit = sp - cp

= 4000 - 3270

= ₹ 730

profit % = profit/cp x 100

= 730/3270 x 100

= 22.32%