A dealer buys an article marked at Rs.25,000 with 20% and 5%
A dealer buys an article marked at Rs.25,000 with 20% and 5% off. He spends Rs.1,000 for its repairs and sells it for Rs.25,000. What is his gain or loss percent?
ALoss of 25%
BGain of 25%
CGain of 10%
DLoss of 10%
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Answer is : Gain of 25%
Explanation:
A dealer buys an article marked at Rs.25,000
After first discount 20% it become,
= 25000 - 20% of 25000 = 20000.After second discount 5%, it becomes
= 20000 - 5% of 20000 = 19000.He spends Rs.1,000 for its repairs
= 19000 + 1000 = 20000
so, Cost Price: (C.P.) = 20000 .....................(i)and sells it for Rs.25,000
So, Selling Price: (S.P.) = 25000 ..................(ii)From (i) and (ii)
S.P. is greater than C.P., the seller is said to have a profit or gain.Profit or Gain = (S.P.) - (C.P.)
= 25000 - 20000
= 5000.
\(\text{% Profit} = \frac{5000*100}{20000} = 25%.\)
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