Question
A man purchased a car for ₹3,00,000 and sold it after
1 year at a loss of 15%. If he had sold it for ₹50,000 more, what would have been the profit percentage (rounded off to two decimal places)?Solution
Cost Price (CP) of the car = ₹3,00,000
The car was sold at a loss of 15%.
Selling Price (SP₁) = CP × (1 − 15/100) = 3,00,000 × 0.85 = ₹2,55,000
If he had sold it for ₹50,000 more, the new selling price would be:
SP₂ = 2,55,000 + 50,000 = ₹3,05,000
Profit = SP₂ − CP = 3,05,000 − 3,00,000 = ₹5,000
Profit % = (Profit / CP) × 100 = (5,000/3,00,000) × 100 = 1.67%
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