Question

Ravi purchased an old house for 765000 and spent 115000 on its repairs. Then, he sold
it at a gain of 5%. How much did he get?​

Answer 1

➤ Given :-

Cost price of old house :- ₹765000

Cost spent on its repairs :- ₹115000

Gain percentage :- 5%

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➤ To Find :-

Selling price of the house after it's repairs.

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➤ Formula required :-

${\tt \large \dashrightarrow \orange{\boxed{\tt \gray{\dfrac{(100 + Gain \bf\%)}{100} \times CP}}}}$

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★ How to do :-

Here, we are given with the cost price of an old house and Ravi spent some rupees on it's repairs. Then, he sold it at a profit of 5%. We should find the cost at which it is sold i.e, the selling price. So, first we should find the total cost price of the house by adding the given cost price and the cost spent on its repairs. Then, we can find the selling price of the same house by using the given formula. So, let's solve!!

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➤ Solution :-

Total cost price of the house :-

${\tt \leadsto 765000 + 115000}$

${\tt \leadsto Rs \: \: 880000}$

Now,

Selling price :-

${\tt \leadsto \dfrac{(100 + 5)}{100} \times 880000}$

${\tt \leadsto \dfrac{105}{\cancel{100}} \times \cancel{880000} = \dfrac{105}{1} \times 8800}$

${\tt \leadsto \dfrac{105 \times 8800}{1} = \dfrac{924000}{1}}$

${\tt \leadsto \cancel \dfrac{914550}{1} = \boxed{\tt Rs \: \: 924000}}$

$\Huge\therefore$ The selling price of the house is ₹924000.

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$\dashrightarrow$ Some related formulas :-

$\small\boxed{ \begin{array}{cc}\large\sf\dag \: {\underline{More \: Formulae}} \\ \\ \bigstar \: \sf{Gain = S.P – C.P} \\ \\ \bigstar \:\sf{Loss = C.P – S.P} \\ \\ \bigstar \: \sf{Gain \: \% = \Bigg( \dfrac{Gain}{C.P} \times 100 \Bigg)\%} \\ \\ \bigstar \: \sf{loss \: \% = \Bigg( \dfrac{loss}{C.P} \times 100 \Bigg)\%} \\ \\ \bigstar \: \sf{C.P =\dfrac{100}{100+Gain\%} \times S.P} \\ \\\bigstar \: \sf{S.P = \dfrac{100-loss\%}{100} \times C.P} \\ \\ \bigstar \: \sf{C.P =\dfrac{100}{100-loss\%} \times S.P}\end{array}}$