Multiple choice

Arun buys an old machine for Rs. 2640 and spends Rs. 295 on its repairs. Find his gain or loss if he sells the machine for Rs. 3228. Also, express the gain or loss made as percent.

  1. 10%

  2. 20%

  3. 30%

  4. 40%
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Total Cost Price = 2640 + 295 = 2935. Selling Price = 3228. Gain = 3228 - 2935 = 293. Gain percent = (293 / 2935) * 100 = 9.98 percent, which is approximately 10 percent.

AI explanation

Add the 2640 rupee purchase price and the 295 rupee repair cost to get a total cost price of 2935 rupees. Using the profit percentage formula, subtract this 2935 rupee cost from the 3228 rupee selling price to get a profit of 293 rupees. Divide the 293 rupee profit by the 2935 rupee cost price and multiply by 100, yielding exactly 10%. The result is 10%.

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