Question

Sohan bought a second-hand refrigerator for ₹ 2500 and spent ₹ 1500 on its repair. He then sold it for ₹ 3300. What is the gain or loss percentage?

• A. 10% gain
• B. 22.5% loss
• C. 17.5% loss
• D. 10% loss

Answer 1

The correct option is C

17.5% loss

Cost price of refrigerator (CP) = ₹ (2500 + 1500) = ₹ 4000

Selling price of refrigerator (SP) = ₹ 3300

A loss has incurred because the cost price is greater than the selling price.

Loss = CP - SP = ₹ (4000 - 3300) = ₹ 700

Loss percentage = $\frac{Loss}{CP}\times 100$
$=\frac{700}{4000}\times 100=17.5\%$

Therefore, there is a loss of 17.5 %.