Neeraj buys an old piano for Rs. 6800 and spends Rs. 1200 to repair it. If he sells the piano for Rs

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17 Feb 2021 Profit

Neeraj buys an old piano for Rs. 6800 and spends Rs. 1200 to repair it. If he sells the piano for Rs. 8600, what is his gain percentage?

OPtion

1) 8.2%
2) 6.8%
3) 6.5%
4) 7.5%
5) 5.5%
6) 8.5%
7) 6.2%
8) 7.8%
9) 9.5%
10) None of the above

Solution

C.P. = 6800 + 1200 = Rs.8000
S.P. = Rs.8600
Gain% = {(S.P. – C.P)/C.P.}X 100
= (8600 – 8000) / 8000 X 100
= 600 X 100 /8000
= 60000/8000
= 7.5 %

Correct Option: 4 Best Solution (3)