Question 66

A farmer purchased a piece of land for Rs. 18 lakh and spent Rs. 3 lakh for registration, fencing etc. He sold it for Rs. 24.57 lakh. Find his profit in percentage?

Solution

Total cost of land for farmer after registration and fencing = 18 + 3 = 21 lakh

Selling price of land = 24.57 lakh

Profit = 24.57 - 21 = 3.57 lakh

Profit % = $$\frac{3.57\times\ 100}{21}$$=17%.

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