Question

Robin purchased an old car for Rs 73500. He spent Rs 10300 on repair and paid Rs 2600 for its insurance . Then he sold it to a mechanic for Rs 84240 . what was his percentage gain or loss?

Answer 1

Total cp = 73500+10300+2600=86400₹
Sp=84240
Loss =86400-84240=2160
Loss%=(2160/86400)x100=2.5%

Answer 2

Answer:

His loss percentage is 2.5%.

Step-by-step explanation:

It is given that Robin purchased an old car for Rs 73500. He spent Rs 10300 on repair and paid Rs 2600 for its insurance.

Now total cost of car is

$CP=73500+10300+2600=86400$

He sold it to a mechanic for Rs 84240. So, the selling price is 84240.

The profit and loss percentage is

$\text{Profit and Loss}\%=\frac{SP-CP}{CP}\times 100$

$\text{Profit and Loss}\%=\frac{84240-86400}{86400}\times 100=-2.5$

The negative sign represents the loss.

Therefore his loss percentage is 2.5%.