## Mr Gupta purchased a house for * 4,80,000. He spent * 25,000 on its repairing and 15,000 on itdecoration. After sometime, he

Question

Mr Gupta purchased a house for * 4,80,000. He spent * 25,000 on its repairing and 15,000 on it
decoration. After sometime, he sold it for 5,32,000. Find the profit/loss per cent ​

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2 months 2021-07-27T15:33:20+00:00 2 Answers 0 views 0

The profit Mr. Gupta faced is of 2.3 %

Step-by-step explanation:

Solution :

Gupta purchased the house for = Rs. 4,80,000

Repairing charges = Rs. 25,000

Decoration charges = Rs. 15,000

House sold for = Rs. 5,32,000

The cost price of the house will include the overhead charges as well.

⇒ House’s price + repairing charges + decoration charges = Cost Price

⇒ Cost Price = 4,80,000 + 25,000 + 15,000

Cost Price = Rs. 5,20,000

## __________________

Determining whether it’s a profit or loss :

• Selling Price = Rs. 5,32,000
• Cost Price = Rs. 5,20,000

⇒ 5,32,000 > 5,20,000

⇒ SP > CP

It’s a profit.

## __________________

Profit percentage:

⇒ Profit % = (Selling Price – Cost Price)/Cost Price × 100

⇒ Profit % = (5,32,000 – 5,20,000)/5,20,000 × 100

⇒ Profit % = 12,000/5,200

⇒ Profit % = 2.3 %

Profit % = 2.3 %

Therefore, the profit Mr. Gupta faced is 2.3