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

From question,
C.P. of Car $=Rs.73500$
Repair Cost $=Rs.10300$
Insurance Cost $=Rs.2600$
S.P. of Car $=Rs.84240$
Total cost price of car $=$ C.P. $+$ Repair Cost $+$ Insurance Cost
$=73500+10300+2600$
$=Rs.86400$

Since, Selling price $<$ Cost Price
So, its loss.

Loss $=Rs.86400-Rs.84240=Rs.2160$

Therefore,

Loss $\%=\frac{loss\times 100}{C.P.}$ = $\frac{2160\times 100}{86400}$ = $2.5\%$