Question

A car dealer purchased a second hand car. He then sold it at $75.000 and earned a profit of $1500. What was the cost price of that car?​

Answer 1

Gain percentage is 4.16 %

Solution:

Cost price of car = Rs.150000

He spent rupees 12500 on its repair and painting

Repairing cost = Rs. 12500

Total CP = 150000 + 12500

Total CP = 162500

Then sold it for rupees 170000

SP = 170000

We can see,

SP > CP

Which is gain

Gain = SP - CP

Gain = 170000 - 162500

Gain = 7500

Find the gain percent

$\begin{gathered}\text{Gain percent } = \frac{ gain }{ CP } \times 100\\\\\text{Gain percent } = \frac{ 7500}{ 162500} \times 100\\\\\text{Gain percent } = 4.16 \%\end{gathered}$

Thus gain percentage is 4.16 %

Answer 2

Answer :

$ 46,875

Given :

Selling price =$ 75,000

Profit = $ 1500

To find :

Cost Price

Solution :

Selling price =$ 75,000

Profit = $ 1500

$\sf \: Cost \: Price = \dfrac{s.p}{100 + profit}$

$\sf \: Cost \: Price = \dfrac{75000}{100 + 1500}$

$\sf \: Cost \: Price = \dfrac{75000}{1600}$

$\sf \: Cost \: Price =46,875$

Hence, the cost price of Second hand car is 46,875.

Know more :-

$\sf \: Cost \: Price = \dfrac{s.p}{100 + profit}$