Question : Ajay buys a scooter for Rs. 7560 and spends Rs. 540 on its repair. He sells it for Rs. 9000. What is his gain percentage?
Option 1: 8.33%
Option 2: 9.09%
Option 3: 11.11%
Option 4: 6.25%
Correct Answer: 11.11%
Solution :
Ajay buys a scooter for Rs. 7560
Spends on repairing = Rs. 540
Total cost price = 7560 + 540 = 8100
Selling price = Rs. 9000
Gain = selling price – cost price = 9000 – 8100 = 900
Gain percentage = $\frac{\text{Selling price – Cost price}}{\text{Cost price}}×100=\frac{900}{8100}\times100= 11.11\%$
Hence, the correct answer is 11.11%.
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