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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 o
Question

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)?

A.

Loss by 11%

B.

Gain by 13%

C.

Loss by 13%

D.

Gain by 11%

Correct option is D

• 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 = GainTotal C.P.\frac {Gain} { Total\, C.P.}​× 100
Gain percentage = 3,00026,500\frac {3,000 }{26,500} × 100 = 11.32% ≈ 11%

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