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Ravi bought an old house for Rs 765000, on its maintenance Ravi had to spend a total of Rs 115000. Now, he sold the house at a profit of 5%. What was his selling price?

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Rs 924000

Rs 860000

Rs 948000

Rs 888000

answer is A.

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Detailed Solution

Given that, Ravi bought an old house for Rs 765000, and on its maintenance, Ravi had to spend a total of Rs 115000.
We have the following formulas,
S.P=selling price.
C.P=cost price.
Gain=S.P-C.P

G a i n % = S . P − C . P C . P × 100

Loss=C.P-S.P

L o s s % = C . P − S . P C . P × 100

Let the S.P of the house be ‘a’.
The total C.P of the house is,

= 765000 + 115000 = 880000

We are given that, the gain on the house is 5%.
The S.P of the house is,

⇒ 5 = a − 880000 880000 × 100 ⇒ 4400000 = 100 a − 88000000 ⇒ 44000 = a − 880000 ⇒ a = 924000

The S.P. is Rs. 924000.
Therefore, the correct option is 1.

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