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Question

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


A

10% gain

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B

22.5% loss

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C

17.5% Loss

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D

10% loss

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Solution

The correct option is C

17.5% Loss


Cost price of refrigerator = (2500 + 1500) = 4000
[Sohan had to spend 1500 on repairs]

Loss = CP - SP = (4000 - 3300) = 700
(because the cost price is greater than the selling price)

Loss percentage= LossCP×100 = 7004000×100 = 17.5%

Hence, loss percent = 17.5%


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