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Profit, Loss & Discount · Question 8 of 72

Question 8

EasyOriginal question

Tenzin buys an old scooter for ₹18,000, spends ₹2,000 on repairs and sells it for ₹23,000. What is his profit percentage?

Options for question 8

Show the answer and explanation
CorrectNot quiteAnswer A

Correct answer: A

Explanation

  1. Total cost = ₹18,000 + ₹2,000 = ₹20,000.

  2. Profit = ₹23,000 − ₹20,000 = ₹3,000.

  3. Profit % = 300020000×100=15%\frac{3000}{20000} \times 100 = 15\%.

Worth noting

Repair money is part of the cost price. Leaving it out of the base gives 1623%16\frac{2}{3}\%.

Concept
Overheads are added to the cost price
Typical time
45 s
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