Question:
Robin purchased an old car for Rs 73500. He spent Rs 10300 on repairs and paid Rs 2600 for its insurance. Then he sold it to a mechanic for Rs 84240. What was his percentage gain or loss?
Solution:
CP of the car $=$ Rs. 73500
Repairs $=$ Rs. 10300
Insurance $=$ Rs. 2600
Total CP $=73500+10300+2600=$ Rs. 86400
SP $=$ Rs. 84240
Since SP $<$ CP, Robin has a loss.
Loss $=86400-84240$
$=$ Rs. 2160
Loss percentage $=\left(\frac{\text { loss }}{\text { total CP }} \times 100\right) \%$
$=\left(\frac{2160}{86400} \times 100\right) \%$
$=2 \frac{1}{2} \%$
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