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Mr. Mehta purchased a second car for Rs.80,000 and spent Rs.15,000 on repairs. After some time, he sold the car for Rs.90,000. Find the profit or loss percentage.

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Loss,

Profit,

Loss,

answer is A.

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Detailed Solution

Concept: To calculate profit or loss we use the formula-

First, we need to find out if that man made a profit or loss.
To know that we must find the cost price and the selling price.
Cost price =

Selling price =

Cost price is more than the selling price, so it means that the man made a loss.
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The man made a loss of Rs.5000
Question Image

Hence, the correct answer is option 1.

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