Amar buys an old washing machine for Rs.4,500 and spends Rs.500 on its repair. If he sells the washing machine for Rs.4,500, then what is his loss percent ?
Answer & explanation
Correct answer: option 3
Cost price = 4500
Spent = 500
Final cost price = 4500 + 500 = 5000
Selling price = 4500
Loss percentage = \(\frac{( 5000 - 4500 ) × 100}{5000}\) = 10%