Question

Robin purchased an old car for 71,14,600 and spent 5400 on its repair. He sold the car for 1,50,000.
Find his gain percentage in this transaction.​

Answer 1

Money for which he bought the car  = 71,14,600

The money he spent on repair = 5,400

So CP = 71,14,600 + 5,400 = 71,20,000

Money for which he sold the car = 1,50,000

gain % = (gain/cp) * 100/1

gain = sp-cp

gain = 1,50,000-71,20,000

gain = -69,50,000

gain% = -69,50,000/71,20,000 * 100/1

gain% = -69,50,000/71,20,0 * 1/1

gain% = -69,500/712

gain% = -97%