A shopkeeper bought an oven for Rs. 25,000 and sold it for Rs. 29,500. He spent Rs. 1,500 as overheads. What is his loss or gain percentage (rounded off to the nearest integer)?
• Cost price of oven (CP) = Rs. 25,000
• Selling price of oven (SP) = Rs. 29,500
• Overheads = Rs. 1,500
Total Cost Price = CP + Overheads
Total Cost Price = 25,000 + 1,500 = 26,500
Gain = SP - CP
Gain = 29,500 - 26,500 = 3,000
Gain percentage = × 100
Gain percentage = × 100 = 11.32% ≈ 11%
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