Question

Akhil purchased a house for Rs. $40000$. He spent Rs. $5000$ for repair. If he sold the house for Rs. $55000$, find the percentage of loss or gain in the transaction.

Answer 1

Total C.P. of a house $=$ Rs. $40000+$ Rs. $5000=$ Rs. $45000$
SP $=$ Rs. $55000$ (Which is less than C.P.)
Gain $=$ S.P. $-$ C.P. $=55000-45000=10000$
Gain $\%$ $=$ $\frac{gain}{totalC.P.}\times 100$ $\%$
$=\frac{10000}{45000}\times 100$

$=22.22$ $\%$