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Profit and Loss

Q1: Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:

A 10%

B
5 5 %
11

C
4 4 %
7

D 12%

ANS:B -

5 5 %
11

Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500. Selling Price (S.P.) = Rs. 5800. Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300.

Gain % = 300 x 100 % = 5 5 %
5500 11



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