To determine how much the person spent on buying the car, we will use the formula for calculating loss percentage.
The formula for loss percentage is:
\(\text{Loss Percentage} = \left( \frac{\text{Cost Price (CP)} - \text{Selling Price (SP)}}{\text{Cost Price (CP)}} \right) \times 100\)
We know from the question:
- Selling Price (SP) = ₹ 5,70,000
- Loss Percentage = 5%
Rearranging the formula to find the Cost Price (CP), we get:
\(\text{CP} = \frac{\text{SP}}{1 - \frac{\text{Loss Percentage}}{100}}\)
Substitute the given values into the formula:
\(\text{CP} = \frac{5,70,000}{1 - \frac{5}{100}}\)
This simplifies to:
\(\text{CP} = \frac{5,70,000}{0.95}\)
Now, calculate the Cost Price:
\(\text{CP} = 6,00,000\)
Therefore, the person spent ₹ 6,00,000 to buy the car.
The correct answer is ₹ 6,00,000.
Important Questions from Percentage
Radha saves 25% of her income. If her expenditure increases by 20% and her income increases by 29%, then her savings increase by;
The income of A is 45% more than the income of B and the income of C is 60% less than the sum of the incomes of A and B. The income of D is 20% more than that of C. If the difference between the incomes of B and D is Rs. 13200, then the income (in Rs.) of C is:
The price of cooking oil increased by 25%. Find by how much percentage a family must reduce its consumption in order to maintain the same budget.
The population of a city increased by 30% in the first year and decreased by 15% in the next year. If the present population is 11,050 then population 2 years ago was:
The income of A is 30% less than the income of B and the income of B is 137.5% more than that of C. If the income of A is Rs. 28500 less than that of B, then the income (in Rs.) of C is:
