Question

Ahail bought a second-hand mobile phone for Rs. 5000 and then spent Rs. 1000 on its repairs and then sold it for Rs. 6500. What is the gain or loss %?

• A. 10% gain
• B. 17.5% loss
• C. 20% Loss
• D. 10% loss

Answer 1

The correct option is B

17.5% loss

The total cost of the mobile phone to Ahail (CP) = Rs. 5000 + Rs. 1000 = Rs. 6000.
He sold it for Rs 6500 (SP). Hence, he sold more than his cost, which means he made a profit.
$Profit\%=\frac{NetProfit}{Costprice}\times 100$
Net profit = S.P - C.P = 6500 - 6000 = Rs. 500
$\Rightarrow \frac{(Rs.6500-Rs.6000)}{Rs.6000}\times 100\Rightarrow \frac{Rs.500}{Rs.6000}\times 100=8.33\%profit$