Question

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

Answer 1

$$\begin{gathered} \mathrm{CP}\mathrm{of}\mathrm{the}\mathrm{car}=\mathrm{Rs}.73500 \\ \mathrm{Repairs}=\mathrm{Rs}.10300 \\ \mathrm{Insurance}=\mathrm{Rs}.2600 \\ \mathrm{Total}\mathrm{CP}=73500+10300+2600=\mathrm{Rs}.86400 \\ \mathrm{SP}=\mathrm{Rs}.84240 \\ \mathrm{Since}\mathrm{SP}<\mathrm{CP},\mathrm{Robin}\mathrm{has}\mathrm{a}\mathrm{loss}. \\ \mathrm{Loss}=86400-84240 \\ =\mathrm{Rs}.2160 \\ \mathrm{Loss}\mathrm{percentage}=(\frac{\mathrm{loss}}{\mathrm{total}\mathrm{CP}}\times 100)\% \\ =(\frac{2160}{86400}\times 100)\% \\ =2\frac{1}{2}\% \end{gathered}$$