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Mr Virmani purchased a house for Rs 365000 and spent Rs 135000 on its repairs. If he sold it for Rs 550000, find his gain percent.

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Given Mr. Virmani spent to purchase the house = Rs. 365000

Amount he spent on repair = Rs. 135000

Total amount he spent on the house (CP) = Rs. (365000 + 135000)

= Rs. 500000

Given SP of the house = Rs. 550000

Gain = SP – CP

= Rs. (550000 – 500000)

= Rs. 50000

Gain % = (Gain/CP) x 100

= (50000/500000) x 100

= 5000000/500000

Gain = 10%

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