Correct Answer - Option 2 : 20%
Given:
X buys a scooter for Rs. 40,000 and spends Rs. 5,000 on its repair.
He sells it for ₹ 54,000.
Formula used:
Profit% = {(SP - CP)/CP} × 100
where,
SP = Selling price
CP = Cost price
Calculation:
Total CP = 40,000 + 5,000 = Rs. 45,000
SP = Rs. 54,000
Profit% = {(SP - CP)/CP} × 100
⇒ {(54,000 - 45,000)/45,000} × 100
⇒ (9,000/45,000) × 100
⇒ 20%
∴ The gain% is 20%.
