Question 2 - Finding cost price, selling price, profit % , loss% - Chapter 7 Class 8 Comparing Quantities

Last updated at Dec. 16, 2024 by

Example 5 - Sohan bought a second hand refrigerator for Rs 2,500

Example 5 - Chapter 8 Class 8 Comparing Quantities - Part 2

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Question 2 Sohan bought a second hand refrigerator for Rs 2,500, then spent Rs 500 on its repairs and sold it for Rs 3,300. Find his loss or gain per cent. Given, Cost Price = Rs 2500 Money spent on repairs = Rs 500 And, Selling Price (SP) = Rs 3300 Now, Total Cost Price (CP) = Cost Price + Overhead expenses = 2500 + 500 = 3000 Since, SP > CP Sohan made a gain Gain = SP βˆ’ CP = 3300 βˆ’ 3000 = 300 Also, Gain Percentage = πΊπ‘Žπ‘–π‘›/𝐢𝑃 Γ— 100 = 300/3000 Γ— 100 = 30/3 = 10% Thus, Gain Percentage is 10%

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