Multiple choice

A trader at Trichy buys a television for Rs. 7000 from chennai and sells it in Trichy for Rs. 7600. If his overhead expenses amount to Rs. 1000; find his profit or loss in this transaction and express it as percent.

  1. 1%

  2. 3%

  3. 5%

  4. 7%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Total cost price = 7000 (purchase) + 1000 (overhead) = 8000. Selling price = 7600. Loss = 8000 - 7600 = 400. Loss percent = (400 / 8000) * 100 = 5%.

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