Question

Sohan bought a second-hand refrigerator for ₹2,500, then spent ₹500 on its repairs and sold it for ₹3,300. Find his loss or gain percent.

• A. 10% profit
• B. 10% loss
• C. 5 % loss
• D. 5 % profit

Answer 1

The correct option is A

10% profit

Cost Price (CP) = ₹2500 + ₹500 (overhead expenses are added to given CP) = ₹3000

Selling Price (SP) = ₹3300

As SP > CP, he made a profit = ₹3300 - ₹3000 = ₹300.

His profit on ₹3,000 is ₹300.

$\text{Profit\%}=\frac{300}{3000}\times 100\%=10\%$