Question 1100389: Mr.Chowdhary purchased a house for Rs 6.1 lac and spent Rs 30,000 on its repairs. He then sold it for Rs 8 lac. Find his gain percent
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! 1 lac is equal to 100,000 rs.
6.1 lac is equal to 6.1 * 10^5 which is equal to 610,000 rs.
8 lac is equal to 8 * 10^5 rs which is equal to 800,000 rs.
the house was purchased for 610,000 rs and 30,000 rs of repairs was put into it.
the total cost was therefore 640,000 rs.
it was then sold for 800,000 rs.
the profit was 800,000 - 640,000 = 160,000 rs.
the percent profit was 160,000 / 640,000 = .25 = 25%.
if you worked it in lac, you would get the same answer.
30,000 rs / 100,000 = .3 lac.
6.1 lac + .3 lac = 6.4 lac.
8 lac - 6.4 lac = 1.6 lac.
the percent gain (profit) is therefore 1.6 lac / 6.4 lac = .25 = 25%
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