Question

Aman buys a second hand scooter for Rs. 30,000. He spends Rs. 5,000 on its repairs and Rs. 2000 on painting and sells the scooter for Rs. 45,000. Find his profit percentage?
1. 19.3%
2. 27.4%
3. 21.6%
4. 24.7%

Answer 1

Correct Answer - Option 3 : 21.6%

Given:

Cost price of the scooter = Rs. 30,000

Additional Cost = Rs. 5000 + Rs. 2000

= Rs. 7000

Selling price of the scooter = Rs. 45,000

Formula used:

Profit % = (Profit/CP) × 100

Calculation:

Net Cost price = Rs. 30,000 + Rs. 7000

= Rs. 37,000

Profit = Rs. 45,000 - Rs. 37,000

= Rs. 8000

∴ Profit % = (8000/37000) × 100

= 21.6%