John buys a second hand car for Rs 180000 and spent Rs 20000 for repairing it. He sold it for Rs 220000 Find his gain %.Options :50%20%10%none
Question
John buys a second hand car for Rs 180000 and spent Rs 20000 for repairing it. He sold it for Rs 220000 Find his gain %.Options :50%20%10%none
Solution
To calculate the gain percentage, we first need to find out the total cost price.
Step 1: Add the purchase price of the car and the repair cost. Total cost price = Purchase price + Repair cost Total cost price = Rs 180000 + Rs 20000 = Rs 200000
Step 2: Subtract the total cost price from the selling price to get the gain. Gain = Selling price - Total cost price Gain = Rs 220000 - Rs 200000 = Rs 20000
Step 3: Calculate the gain percentage. Gain % = (Gain / Total cost price) * 100 Gain % = (Rs 20000 / Rs 200000) * 100 = 10%
So, John's gain percentage is 10%.
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