A second hand car was sold for Rs246500 at a loss of Rs 8500.Find the cost
price and loss% of the car?
Answers
Required Formula:
C.P. = [100/(100 ± G or L)] * S.P.
The S.P. of second -hand car and jeep = Rs. 120000 each
∴ Total S.P. of the car and jeep = 120000 * 2 = Rs. 240000
For the car:
Sold at a Loss of = 20%
∴ The C.P. of the car = \frac{100}{100-20} * 120000 = \frac{100}{80} * 120000 = Rs. 150000
For the jeep:
Sold at a Gain of = 20%
∴ The C.P. of the jeep = \frac{100}{100+20} * 120000 = \frac{100}{120} * 120000 = Rs. 100,000
∴ The total C.P. of the car and jeep = 150000 + 100000 = Rs. 250000
Since the total C.P. is more than the total S.P. of the car and jeep, therefore there will an overall loss in the transaction.
Thus,
The overall loss in the transaction was,
= \frac{C.P. - S.P.}{C.P.} * 100
= \frac{250000 - 240000}{250000} * 100
= 0.04 * 100
= 4%
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