Robin purchased an old car for ₹73500. He spent ₹10300 on repairs and paid ₹2600 for its insurance. Then he sold it to a mechanic for ₹84240. What was his percentage gain or loss? Hint: overheads = ₹ 10300 + ₹ 2600 = ₹ 12900

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Solution

Actual price of old car = purchase price + overheads

= 73500 + 12900

= 86400

Cost price = ₹ 86400

Selling price = ₹ 84240

SP < CP, hence it’s a loss.

Loss = CP – SP = 86400 – 84240 = 2160

Loss % = (Loss × 100) / CP = (2160 × 100) / 86400

= 2.5%

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Robin purchased an old car for ₹73500. He spent ₹10300 on repairs and paid ₹2600 for its insurance. Then he sold it to a mechanic for ₹84240. What was his percentage gain or loss? Hint: overheads = ₹ 10300 + ₹ 2600 = ₹ 12900

Actual price of old car = purchase price + overheads = 73500 + 12900 = 86400 Cost price = ₹ 86400 Selling price = ₹ 84240 SP < CP, hence it’s a loss. Loss = CP – SP = 86400 – 84240 = 2160 Loss % = (Loss × 100) / CP = (2160 × 100) / 86400 = 2.5%

Actual price of old car = purchase price + overheads

= 73500 + 12900

= 86400

Cost price = ₹ 86400

Selling price = ₹ 84240

SP < CP, hence it’s a loss.

Loss = CP – SP = 86400 – 84240 = 2160

Loss % = (Loss × 100) / CP = (2160 × 100) / 86400

= 2.5%