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Loss

Alex purchase...

Question

Alex purchased a house for ₹365000 and spent ₹135000 on its repairs. If he sold it for ₹550000, find his gain percent.

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Solution

We know that,
Amount spent on purchasing the house = ₹365000

Amount spent on the repairs = ₹135000

Total amount spent on the house (CP) = ₹(365000 + 135000)

= ₹500000

SP of the house = ₹550000 (Given)

Gain = SP – CP

= ₹(550000 – 500000)

= ₹50000

Gain % = (Gain/CP) x 100

= (50000/500000) x 100

= 5000000/500000

Gain = 10%

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