Question
CSATMediumPrelims 2020Maths

A person bought a car and sold it for Rs. 3,00,0003,00,000. If he incurred a loss of 20%20\%, then how much did he spend to buy the car?

Explanation

Method I: Let the Cost Price (CP) be Rs. xx. The Selling Price (SP) of the car = Rs. 3,00,0003,00,000, and the loss percent = 20%20\%. Therefore, 80%80\% of x=300000x = 300000, which implies: x=300000×(10080)x = 300000 \times (\frac{100}{80}), xx = Rs. 3,75,0003,75,000.

Method II: A 20%20\% loss means the Selling Price (SP) is 20%20\% less than the Cost Price (CP). So, CP must be 25%25\% more than SP. Thus, CP = SP + 25%25\% of SP = 300000+25%300000 + 25\% of 300000=300000+75000300000 = 300000 + 75000 = Rs. 3,75,0003,75,000.

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