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

Answer 1

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

Hence, loss percent = 17.5%