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A person buys an item for Rs.400. He then spends Rs.100 on transporting and Rs.150 on repairing the item. He then sells it at Rs.700. What is his loss or profit percent?

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2 %

loss

10 %

profit

7.69 %

profit

8 %

loss

answer is C.

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Detailed Solution

Given,
CP=Rs.400
Money spent on transport = Rs.100
Money spent on repairing = Rs.150
SP= Rs.700
Total money spent on the item after buying it = Rs.(100+150) =

Rs . 250

Then, total CP will be Rs.(400+250) =

Rs . 650

Since SP>CP, there will be profit.
Profit = SP-CP

\Rightarrow Profit = 700 - 650

\Rightarrow Profit =

Rs.50
We know that,

profit % = \frac{Profit .}{C . P .} \times 100

Hence,

profit % = \frac{50}{650} \times 100

\Rightarrow profit % = \frac{100}{13}

\Rightarrow profit % = 7.69

%
Hence, the profit percent on the whole is

7.69 %

.
Therefore the correct option is 3.

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