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Rahul purchased an old water tank Rs. 7620 and spent Rs. 320 preparing its lid. After sometime he sold it for Rs. 9600. Let's find the profit or loss .

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21.9%

22.9%

20.91%

25.00%

answer is C.

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Detailed Solution

Here, we using the formula to find the profit percentage:

We are given that Rahul purchased an old water tank Rs. 7620 and spent Rs. 320 preparing its lid and sold it for Rs. 9600 after sometime. We need to find his profit or loss percentage.
Let us assume it as ‘c’.

We are given that Rahul sold this tanker for Rs. 9600 which means our selling price,

Thus,

So, the profit incurred by Rahul is Rs. 1660.
Here, to find the profit percentage:

We have found the profit percentage as 20.91%.

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