Question
Deepak bought an old house at Rs. 4,50,000 and he spent Rs. 50,000 on its painting. He increased the price of house by 20% at the time of selling but he gives 5% discount when he sold. What is the profit percentage?
Solution
Total cost price of the house = 450000 + 50000 = Rs. 500000 Selling price of house = 500000 × 1.2 × 0.95 = Rs. 570000 Profit percentage = [(570000 – 500000)/500000] × 100 = 14%
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