Virat buys an old car for Rs.50000 and spends Rs.4000 on its repairs.If he sells the scooter for Rs.60000, his gain percent is:
Question
Virat buys an old car for Rs.50000 and spends Rs.4000 on its repairs.If he sells the scooter for Rs.60000, his gain percent is:
Solution
Step 1: Calculate the total cost of the car including repairs. This is done by adding the purchase price of the car and the cost of repairs.
Total cost = Purchase price + Repair cost Total cost = Rs. 50000 + Rs. 4000 = Rs. 54000
Step 2: Calculate the gain from selling the car. This is done by subtracting the total cost of the car from the selling price.
Gain = Selling price - Total cost Gain = Rs. 60000 - Rs. 54000 = Rs. 6000
Step 3: Calculate the gain percentage. This is done by dividing the gain by the total cost and then multiplying the result by 100 to get a percentage.
Gain percent = (Gain / Total cost) * 100 Gain percent = (Rs. 6000 / Rs. 54000) * 100 = 11.11%
So, Virat's gain percent is 11.11%.
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