Shashi buys an old refrigerator for ₹12,000 and spends ₹1,000 on its repairs. If he sells the refrigerator for ₹15,000, then his gain percentage is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. %.
Shashi buys an old refrigerator for ₹12,000 and spends ₹1,000 on its repairs
The total spent on the refrigerator by Shashi = ₹(12,000 + 1,000) = 13000
S.P. of the refrigerator = ₹15,000
We know that when S.P. > C.P. = Gain
Now,
Gain percentage = (15000 - 13000)/13000 × 100
2000/13000 × 100 = 15.38% or %