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%?

• 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 = ₹ (2500 + 1500) = ₹ 4000

Loss = CP - SP = ₹ (4000 - 3300) = ₹ 700 (A loss has incured because the cost price is greater than the selling price)

Loss percentage = $\frac{Loss}{CP}\times 100$

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

$\therefore$ There is a loss of 17.5 %.