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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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Example 5 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 − CP = 3300 − 3000 = 300 Also, Gain Percentage = 𝐺𝑎𝑖𝑛/𝐶𝑃 × 100 = 300/3000 × 100 = 30/3 = 10% Thus, Gain Percentage is 10%

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Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.