Question

Mr. Kumar sold his car at a loss of 15%. If he had sold the the car for Rs.50,000 more , he would have made a profit of 5% . Find the CP of the car.

Answer 1

Answer:

The cost price of the car was Rs. 2,50,000.

Step-by-step explanation:

Let the Selling price of the car be Rs. y.

Let the cost price of the car be Rs. x.

Mr. Kumar sold his car at a loss of 15%.

Then the selling price can be expressed as:

$y=x(1-\frac{15}{100})=0.85x$...(i)

If the selling price was, Rs. (y + 50000) then he would have made a profit of 5%.

The new selling price would have been:

$y+50000=x(1+\frac{5}{100})=1.05x$...(ii)

Substitute y = 0.85x in (ii) and solve for x as follows:

$0.85x+50000=1.05x\\1.05x-0.85x=50000\\0.20x=50000\\x=250000$

Thus, the cost price of the car was Rs. 2,50,000.