Question

Vinoth bought a house for Rs.2750000. He spent 250000 for its renovation. If he sold the house
for Rs.3300000 then his profit or loss percent

Answer 1

Answer:

• Vinoth had a profit of 10%.

Step-by-step explanation:

Given that:

• Vinoth bought a house for ₹ 27,50,000.
• He spent ₹ 2,50,000 for its renovation.
• He sold the house for ₹ 33,00,000.

To Find:

• Vinoth's profit or loss percent.

Solution:

Cost Price of the house = ₹ 27,50,000

Amount spent on renovation of the house = ₹ 2,50,000

Total Cost Price of the house = ₹(27,50,000 + 2,50,000)

= ₹ 30,00,000

Selling Price of the house = ₹ 33,00,000

Now,

As,

• SP > CP

Therefore,

• Its a profit.

Calculating profit:

As we know that:

• Profit = SP - CP

Substituting the values,

Profit = ₹(33,00,000 - 30,00,000)

= ₹ 3,00,000

Calculating profit%:

As we know that:

$\sf{\circ\;Profit\%=\left(\dfrac{Profit}{Cost\; Price}\times100\right)\%}$

Substituting the values,

$\sf{Profit\%=\left(\dfrac{3,00,000}{30,00,000}\times100\right)\%}$

Cutting off the zeros,

$\sf{\longmapsto\left(\dfrac{3\!\!\!\not{0}\!\!\!\not{0}\!\!\!\not{0}\!\!\!\not{0}\!\!\!\not{0}}{3\!\!\!\not{0}\!\!\!\not{0}\!\!\!\not{0}\!\!\!\not{0}\!\!\!\not{0}\!\!\!\not{0}}\times10\!\!\!\not{0}\right)\%}$

$\sf{\longmapsto \left(\dfrac{3}{3}\times10\right)\%}$

Reducing the numbers,

$\sf{\longmapsto \left(\dfrac{\not{3}}{\not{3}}\times10\right)\%}$

$\sf{\longmapsto 10\%}$

Hence, Vinoth had a profit of 10%.