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Alfred buys an old scooter for Rs 4700 and spends Rs...

This question belongs to Arithmetic Ability Profit And Loss
Profit and Loss
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Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:

Answer & Solution
Correct Answer: Option B
Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500
Selling Price (S.P.) = Rs. 5800
Gain = (S.P.) - (C.P.) = Rs. (5800 - 5500) = Rs. 300
$$\eqalign{ & {\text{Gain}}\,\% \cr & = \left( {\frac{{300}}{{5500}} \times 100} \right)\% \cr & = 5\frac{5}{{11}}\% \cr} $$
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