Nikhil purchased an old scooter for Rs. $12000$ and spent $R s . 2400$ on its overhauling. Then, he sold it to his friend Sam for $R s . 12, 960$ . How much percent did he gain or lose?

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Solution

The correct option is C $10$
Purchase price of scooter $= 12000 R s$

Overhauling expenses $= 2400 R s$

Total Cost Price (CP) $= 12000 + 2400 = 14400 R s$

Given that, Selling Price (SP) $= 12960 R s$

Since, SP < CP, hence there is a loss.

$L o s s = C P - S P = 14400 - 12960 = 1440 R s$

$∴ L o s s p e r c e n t a g e = \frac{l o s s \times 100}{C P} = \frac{1440 \times 100}{14400} = 10 %$

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Nikhil purchased an old scooter for Rs. 12000 and spent Rs.2400 on its overhauling. Then, he sold it to his friend Sam for Rs.12,960. How much percent did he gain or lose?

The correct option is C 10Purchase price of scooter =12000 RsOverhauling expenses =2400 RsTotal Cost Price (CP) =12000+2400=14400 RsGiven that, Selling Price (SP) =12960 RsSince, SP < CP, hence there is a loss.Loss=CP−SP=14400−12960=1440 Rs∴Loss percentage=loss×100CP=1440×10014400=10%

Nikhil purchased an old scooter for Rs. $12000$ and spent $R s . 2400$ on its overhauling. Then, he sold it to his friend Sam for $R s . 12, 960$ . How much percent did he gain or lose?