Question

Vinay bought a flat for $Rs.4,50,000$. He spent $Rs.10,000$ on its paintings and repair. Then he sold it for $Rs.4,25,500$. Find his gain or loss and also its percent.

Answer 1

Cost of Flat $=Rs.450000$

Painting and Repair Cost $=Rs.10000$

Selling Price $=Rs.425500$

Total Cost Price $=$ Sum of all Costs $=450000+10000=460000$

Profit or Loss $=S.P–C.P=425500–460000=-34500$ (Loss)

Percent loss $=\left(\frac{Loss}{CP}\right)\times 100$

$=\left(\frac{34500}{4500000}\right)\times 100=7.66$

$\therefore$ Loss is of $Rs.34,500$ or $7.66$%.