Question

Sohan bought a second-hand refrigerator for Rs. \[2500\] , then spent Rs. \[500\] on its repair and sold it for Rs. \[3300\] . Find his loss or gain percentage.

Answer 1

Hint: In this question, we have to find the loss or gain percentage. We are given the purchase rate and selling rate of the second-hand refrigerator and also the rate spent to repair it. By using the given data, we are going to find the loss or gain percentage.
We can find this by the unitary method. First, we need to find out the total cost value for buying the refrigerator. Then using the selling price, we will find the total loss or gain. Then we can find the required percentage.

Complete step-by-step solution:
It is given that Sohan bought a second-hand refrigerator for Rs. \[2500\] , then spent Rs. \[500\] on its repair and sold it for Rs. \[3300\] .
We need to seek out the loss or gain percentage.
Thus, first, we would seek out the total cost price.
Sohan bought a second-hand refrigerator for Rs. \[2500\] , then spent Rs. \[500\] on its repair.
Therefore, the total cost price = \[2500 + 500 = 3000\] .
The selling price of the refrigerator = \[3300\]
The total gain in selling the second-hand refrigerator is = \[3300 - 3000 = 300\]
Therefore, the gain \[\% = \dfrac{{300}}{{3000}} \times 100 = 10\% \]

Hence her gain percent is \[10\% \]

Note: We’ve to mind that, profit and Loss formula is employed in mathematics to work out the worth of a commodity within the market and understand how profitable a business is. Every product features a cost price and selling price. Based on the values of those prices, we can calculate the profit gained or the loss incurred for a specific product.
Profit = Selling Price - Cost price
Selling price = cost price + profit$\% \times $cost price
Profit \[\% = \dfrac{{{\text{Profit}}}}{{{\text{CP}}}} \times 100\] \[ \Rightarrow \] Profit= SP-CP
Loss \[\% = \dfrac{{{\text{Loss}}}}{{{\text{CP}}}} \times 100\] \[ \Rightarrow \] Loss=CP-SP