Multiple choice

Mr. Y purchased a flat for Rs. 9,25,000 and spent Rs. 35,000 on its renovation. If he sold the flat for Rs. 10,80,000, then his profit percent is

  1. 15.0

  2. 17.5

  3. 20.0

  4. 12.5
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The total cost price of the flat is the purchase price plus the renovation cost, which is 9,25,000 + 35,000 = 9,60,000 rupees. The profit made is the selling price minus the total cost price, which is 10,80,000 - 9,60,000 = 1,20,000 rupees. The profit percentage is (1,20,000 / 9,60,000) * 100, which equals 12.5%.

AI explanation

Using the total cost price formula, we add the purchase price and the renovation cost to get 925000 + 35000, which equals Rs. 9,60,000. The profit is the selling price minus the total cost price, so 1080000 - 960000, which equals Rs. 1,20,000. Using the profit percentage formula, (Profit / Cost Price) * 100, we calculate (120000 / 960000) * 100, which equals 12.5%. His profit percent is 12.5.

Keep practicing — related questions