vinoth purchased a house for Rs 2750000 . He spentRs250000 on repairs and painting .If he sell for rs 33000 what is his profit or loss
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Cost Price or CP of the house = Rs. 2750000
Overhead expenses on repairs and painting = Rs. 250000
Total CP = Rs. 2750000 + Rs. 250000 = Rs. 3000000
Selling Price or SP = Rs. 33000
As SP < CP, therefore he suffered a loss.
Loss = CP - SP = Rs. 3000000 - Rs. 33000 = Rs. 2967000.
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