Robert buys an old scooter from scrap for Rs. 4700 and spends Rs. 4000 on its repairs. If he sells t

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20 May 2019 Profit & Loss

Robert buys an old scooter from scrap for Rs. 4700 and spends Rs. 4000 on its repairs. If he sells the scooter for Rs. 21750, his gain percent is:

OPtion

1) 200%
2) 15%
3) 50%
4) 400%
5) 300%
6) 1.5%
7) 150%
8) 250%
9) 130%
10) None of these

Solution

Cost price for Robert including repairs = 4700 + 4000 = 8700

Profit = 21750 - 8700 = 13050
Profit % = (13050/8700)*100 = 150%

Correct Option: 7 Best Solution (5)