Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:

4 4 % 7
5 5 % 11
10%
12%

Correct answer: 5 5 % 11

Solution

The total cost price is Rs. 4700 + Rs. 800 = Rs. 5500. The gain is Rs. 5800 - Rs. 5500 = Rs. 300, so gain percent = \(\frac{300}{5500}\times 100 = 5\frac{5}{11}\%\).

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