Question 14
A property dealer sells a house for ` 6,30,000 and in the bargain makes a profit of 5%. Had he sold it for ` 5,00,000, then what percentage of loss or gain he would have made?
Solution
$$\frac{\ 100000}{600000}\times\ 100\%\ =\ 16\ \frac{\ 2}{3}\%$$Let the Cost Price of the house be C.P
$$\left(1+\ \frac{\ 5}{100}\right)C.P\ =\ 630000$$
$$\left(1.05\right)C.P\ =\ 630000$$
C.P = 600,000
If he sold house for 500,000; he would incur loss of 100,000
loss percent = $$\frac{\ 100000}{600000}\times\ 100\%\ =\ 16\ \frac{\ 2}{3}\%$$
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