Question

Sohan bought a second-hand refrigerator for $\text{Rs.}2500$ and spent $\text{Rs.}1500$ on its repairing. He then sold it for $\text{Rs.}3300.$ 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

Given, the Cost Price$(C.P.)$ of the refrigerator $=\text{Rs.}2500$

Repairing Cost $=\text{Rs.}1500$

Effective Cost price of refrigerator $=$ given Cost Price $+$ Repairing Cost

$=\text{Rs.}(2500+1500)=\text{Rs.}4000$

Selling Price $=\text{Rs.}3300$

Since, Selling Price$(S.P.)$ is less than the Cost Price$(C.P.)$, a loss is incurred.

$\Rightarrow$ Loss $=C.P.-S.P.=\text{Rs.}(4000-3300)=\text{Rs.}700$

Loss$\%=\frac{\text{Loss}}{\text{C.P.}}\times 100=\frac{700}{4000}\times 100=17.5\%$

Therefore, there is a loss of $17.5\%.$