Ron ought an almirah for $ 6250 and spent $ 375 on its repairs. Then, he sold it for $ 6890. Find his gain or loss per cent.
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Step-by-step explanation:
CP of the almirah = $ 6250,
Overheads = $ 375.
Total cost price = $ (6250 + 375)
= $ 6625.
Selling price = $ 6890.
Since, (SP) > (CP), Ron gains.
Gain% = $ (6890 - 6625)
= $ 265.
Gain% = [(gain / total CP) × 100] %
= [(265 / 6625) × 100] %
= 4 %
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