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Manish bought a safe for Rs. 18,000 and paid for transportation for Rs. 2,000. Then he sold for Rs. 25,000. Find his gain% or loss%. 1. Profit, 25%2. Loss, 35%3. Loss, 20%4. Profit, 30% |
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Answer» Correct Answer - Option 1 : Profit, 25% Given: Purchase price = Rs.18,000 Transportation charges = Rs.2,000 Selling price = Rs. 25,000 Formula Used: Profit = Selling price – Cost price Profit% = (Profit/ Cost price) × 100 Calculation ⇒ Cost price = Purchase price + Transportation charges ⇒ Cost price = 18,000 + 2,000 = Rs.20,000 ⇒ Selling price = Rs. 25,000 Cost price < Selling price Profit = Selling price – Cost price ⇒ Profit = Rs.25,000 – Rs. 20,000 ⇒ Profit = Rs. 5,000 Profit% = (Profit/ Cost price) × 100 ⇒ Profit% = (5,000/ 20,000) × 100 ⇒ Profit% = 25% ∴ Manish gains 25% in this transaction. The correct option is 1 i.e. Profit, 25% |
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