Multiple choice

A house was sold for Rs.$12,600$ at a profit of $5\%$ on the cost price. What percent would have been gained if it had been sold for Rs$13,000$?

  1. $20\%$
  2. $9\%$
  3. $10\%$
  4. $8 \frac{1}{3}\%$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Cost price = 12600 / 1.05 = 12000. If sold for 13000, profit = 1000. Profit % = (1000 / 12000) * 100 = 100 / 12 = 8.33% or 8 1/3%.

AI explanation

Using the cost price formula, the original cost price is 12600 / 1.05 = 12000. The new profit amount when selling for 13000 is 13000 - 12000 = 1000. Applying the profit percentage formula, (1000 / 12000) * 100 = 8.33%, which is 8 1/3%. The percentage gained would be 8 1/3%.

Keep practicing — related questions