Maddy purchased an old scooter for $ 12000 and spent $ 2850 on its overhauling. Then he sold it to his friend Sam for $ 13860. How much per cent did he gain or lose?

Answer

To solve the problem step by step, we will calculate the cost price (CP), selling price (SP), the loss incurred, and then find the percentage loss.

### Step 1: Calculate the Cost Price (CP)
Maddy purchased the scooter for $12,000 and spent $2,850 on overhauling.

\[ \text{CP} = \text{Purchase Price} + \text{Overhauling Cost} \]
\[ \text{CP} = 12000 + 2850 = 14850 \]

### Step 2: Identify the Selling Price (SP)
Maddy sold the scooter to Sam for $13,860.

\[ \text{SP} = 13860 \]

### Step 3: Calculate the Loss
To find the loss, we subtract the selling price from the cost price.

\[ \text{Loss} = \text{CP} - \text{SP} \]
\[ \text{Loss} = 14850 - 13860 = 990 \]

### Step 4: Calculate the Percentage Loss
To find the percentage loss, we use the formula:

\[ \text{Percentage Loss} = \left( \frac{\text{Loss}}{\text{CP}} \right) \times 100 \]
\[ \text{Percentage Loss} = \left( \frac{990}{14850} \right) \times 100 \]
\[ \text{Percentage Loss} = 0.0667 \times 100 = 6.67\% \]

### Final Answer
Maddy incurred a loss of **6.67%**.

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