Papay buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:
examcare Answered question February 16, 2025
Let me solve this step by step.
- Let’s first calculate the total cost (Cost Price) for Papay
- Cost of scooter = Rs. 4700
- Repair cost = Rs. 800
- Total Cost Price (CP) = Rs. 4700 + Rs. 800 = Rs. 5500
- Selling Price (SP) = Rs. 5800
- To find gain percent:
- Gain = SP – CP
- Gain = 5800 – 5500 = Rs. 300
- Gain percent = (Gain ÷ CP) × 100
- = (300 ÷ 5500) × 100
- = 0.0545 × 100
- = 5.45%
Therefore, Papay’s gain percent is 5.45%
examcare Answered question February 16, 2025
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