Devesh sells his car to Pranav at a profit of 20% who sells it to Hemraj at a loss of 20%. Hemraj, after finding some scratches in the car, returns it to Pranav, but Pranav deducted 1/8th of the amount he got while giving the money back to Hemraj. Find Hemraj’s loss (in Rs.) in the transaction if Devesh bought the car for Rs. 3,50,000.