Question

Shyam bought a table for ₹ 2000 and spent ₹ 1000 on repairs. He then sold it for ₹ 2500. What is the gain or loss%?

• A. 16.67%,loss
• B. 16.67%,profit
• C. 15%,loss
• D. 13%,profit

Answer 1

The correct option is A 16.67%,loss

Cost price of table = ₹ (2000 + 1000) = ₹ 3000 [Shyam had to spend ₹ 1000 on repairs]
Given, SP = ₹ 2500

C.P > S.P . Hence, there is a loss.

Loss = CP - SP = ₹ (3000 - 2500) = ₹ 500 (because the cost price is greater than the selling price)

Loss percentage= $\frac{Loss}{CP}\times 100$ = $\frac{500}{3000}\times 100$ = 16.67%

Hence the loss percent = 16.67%