Question

Mr. Mehta purchased a second hand car for $₹85000$ and spent $₹15000$ on repairs.After some time, he sold the car for $₹90000$. Find the profit or loss. Also, calculate it as a percentage.

Answer 1

The cost price of second-hand car is $₹85000$.

repairing cost $=₹15000$

The total cost price of the car $=₹85000+₹15000=₹100000$

the selling price of the car $=₹90000$

the cost price of the car is more than the selling price, so, there is a loss.

Loss$=$cost price $-$selling price

$=₹100000-₹90000=₹10000$

Thus, the shopkeeper suffers a loss of $₹10000$.

Loss percentage$=\left(\frac{loss}{C.P}\times 100\right)\%$

$=\left(\frac{10000}{100000}\times 100\right)\%=10\%$

Thus, the shopkeeper got the loss of $10\%$.