Rohit bought a truck for 15,00,000. He replaced the engine for 3 65,000 and repainted it for 35,000. He, then, sold it at a price
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Answers ( )
Answer:
5.26%
Step-by-step explanation:
formula used :
profit% = (profit×100)/cost price
step 1: we need to find the profit
profit= (selling price – cost price)
given, selling price = 20,00,000
cost price = (price at which rohit purchased truck +
money he spent on the truck before selling)
Cost price = 15,00,000 (truck bought at this price)
+ 3,65,000 ( engine replacement cost)
+ 35,000 ( repainting cost)
———————-
Cost Price = 19,00,000
Profit = Selling Price– Cost Price
= 20,00,000 – 19,00,000
Profit =1,00,000
Step2: we need to find profit %
Profit% = (profit×100)/Cost price
profit % = (1,00,000×100)/19,00,000
=5.26% (answer)