Sohan bought an old refrigerator for Rs. 2,500; then he spent Rs. 500 on its repairs and sold it for Rs. 3,300. Find his loss or profit percent

Question

Accepted Answer

To determine Sohan's profit or loss percentage, we need to calculate the total cost price and the selling price, and then use these to find the profit percentage.

1. **Calculate the Total Cost Price:**
   - Sohan bought the refrigerator for Rs. 2,500.
   - He spent an additional Rs. 500 on repairs.
   - Therefore, the total cost price (CP) = Rs. 2,500 + Rs. 500 = Rs. 3,000.

2. **Determine the Selling Price:**
   - Sohan sold the refrigerator for Rs. 3,300.

3. **Calculate the Profit:**
   - Profit = Selling Price (SP) - Cost Price (CP)
   - Profit = Rs. 3,300 - Rs. 3,000 = Rs. 300

4. **Calculate the Profit Percentage:**
   - Profit Percentage = (Profit / Cost Price) × 100
   - Profit Percentage = (Rs. 300 / Rs. 3,000) × 100 = 10%

Thus, Sohan made a profit of 10%, which corresponds to Option 4: 10% profit.

**Explanation for Incorrect Options:**

- **Option 1: 15% loss**
  - This option is incorrect because Sohan did not incur a loss. Instead, he made a profit. A loss would occur if the selling price were less than the cost price, which is not the case here.

- **Option 2: 10% loss**
  - This option is incorrect for the same reason as Option 1. Sohan's selling price exceeded his cost price, resulting in a profit, not a loss.

- **Option 3: 12% profit**
  - This option is incorrect because the calculated profit percentage is 10%, not 12%. The profit of Rs. 300 on a cost price of Rs. 3,000 results in a 10% profit.

Therefore, the correct answer is Option 4: 10% profit, as it accurately reflects the profit percentage calculated from the given figures.