Question

Joshi bought a second hand car for rupees 70000 and spent 5000 on its overhauling and sold it for rupees 67500 find its loss and loss percent.

Answer 1

Total cost of the car = Purchase price + overhauling cost

Rs.70,000 + Rs 5000 = Rs.75,000

Selling price = 67,500

Selling price < cost price, there fore its a loss.

Loss = Cost price - selling price =

Rs.75,000 - Rs 67,500 = Rs.7500

Loss % =( loss/ cost price ) × 100

(Rs.7500/ Rs.75,000) × 100

Loss% = 10%