Kohli deals with second-hand goods. He bought a second-hand AC for Rs. 10,000. He spent Rs. 500 on transport and Rs. 2,000 on its repair and sold it for Rs. 15,000. What is his gain or loss percentage?

Explanation

Given: Selling price = 15,000 Buy = 10,000 Spent for transport = 500 Spent for repair = 2000 Formula used: Profit = Selling price - Total spent. Profit % = (Profit × 100) / Total spent. Solution: Total Spent = 10,000 + 500 + 2000 = 12500 Profit = 15000 - 12500 = 2500 Profit % = (2500 × 100) / 12500 ⇒ 20 % Profit He gain 20%.