Question
Ravi purchased an old scooter for ₹ 12000 and spent ₹ 2850 on its overhauling. Then he sold it to his friend for ₹ 13860. How much percent did he gain or lose?
[3 MARKS]
[3 MARKS]
Answer:
:
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Answer: 1 Mark
Cost price= ₹12000, overhead charges= ₹2850
∴ Total cost price = ₹ (12000 + 2850) = 14850
Selling Price = ₹ 13860
Selling Price < Cost Price ⇒ Loss
∴ Loss = Cost price - Selling price
⇒ Loss =₹ (14850-13860) = ₹ 990
Loss percentage = LossCostPrice×100
Loss percentage = 99014850×100 = 6.7 %
So, Ravi incurred a loss of 6.7%.
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:
Calculations: 1Mark
Steps: 1Mark
Answer: 1 Mark
Cost price= ₹12000, overhead charges= ₹2850
∴ Total cost price = ₹ (12000 + 2850) = 14850
Selling Price = ₹ 13860
Selling Price < Cost Price ⇒ Loss
∴ Loss = Cost price - Selling price
⇒ Loss =₹ (14850-13860) = ₹ 990
Loss percentage = LossCostPrice×100
Loss percentage = 99014850×100 = 6.7 %
So, Ravi incurred a loss of 6.7%.
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