Question

Karen purchased a car of Rs 1,00,000 and sold it to his friend at Rs.1,90,000

 Find out his gain percentage from this transaction.

1. 15%
2. 90%
3. 40%
4. 35%

Answer 1

Correct Answer - Option 2 : 90%

Given

Cost price = Rs.1,00,000

Selling Price = Rs 1,90,000

Formula used

Selling price is greater than cost price so its a profit.

Profit = Selling price - Cost price

Profit% = (profit/cost price) × 100

Calculation

Profit = Rs.1,90,000 - Rs.1,00,000

= Rs 90,000

Profit% = (90,000/1,00,000) × 100

= 90%