A pre-owned car show-room owner bought a second-hand car for Rs.1,50,000. He spent Rs.20,000 on repairs and painting then sold it for Rs.2,00,000. Find whether he gets profit or loss. If so, in what percentage?

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2.64%

10.64%

13.64%

17.64%

answer is D.

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Detailed Solution

Cost of car =150000, Repair and painting cost =20000
Total Cost Price=150000+20000
=170000
Selling Price =200000
Profit or Loss =Selling Price–Cost Price
=200000–170000
=+30000 (Profit)
Percent profit =

\frac{Profit}{cost price}

×100
=

\frac{30000}{170000} ​ \times

100
=17.64
∴ profit is 17.64%
Hence, The correct answer is option (4).

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