Rama sold a car costing ₹4,00,000 to Sansar at a loss of 20%. What is the selling price (in)?
Calculating the Car Selling Price with a Loss
This question asks us to find the selling price of a car when we know its original cost price and the loss percentage incurred during the sale.
Understanding the Terms
- Cost Price (CP): This is the original price Rama paid for the car, which is given as ₹4,00,000.
- Loss Percentage: This tells us how much value was lost relative to the cost price. Here, the loss is 20%.
- Selling Price (SP): This is the price at which Rama sold the car to Sansar. This is what we need to find.
Formula for Selling Price with Loss
When an item is sold at a loss, the selling price can be calculated using the cost price and the loss percentage. The formula is:
SP = CP × (1 - Loss Percentage)
In this formula:
SPis the Selling Price.CPis the Cost Price.Loss Percentageis the loss expressed as a decimal (e.g., 20% = 0.20).
Applying the Formula to Find the Selling Price
Let's use the given values in the formula:
- Cost Price (CP) = ₹4,00,000
- Loss Percentage = 20% = 0.20
Now, substitute these values into the formula:
SP = ₹4,00,000 × (1 - 0.20)
First, calculate the value inside the parenthesis:
1 - 0.20 = 0.80
Now, multiply the Cost Price by this value:
SP = ₹4,00,000 × 0.80
SP = ₹3,20,000
Conclusion
Therefore, Rama sold the car to Sansar for ₹3,20,000.
Similar Questions
- P sells a Laptop to Q at a loss of 25% and Q sells the laptop to R at a profit of 20%. If R purchased the laptop for 22,500, then what was the cost (in ₹) of the laptop for P?
- The selling price of y items is equal to the cost price of 540 items. If the profit made is 44%, then find the value of y.
Two articles were sold for Rs.3,000 each, with no loss and profit in the entire transaction. If one was sold at a profit of 25%, then the loss incurred on the second article is _______.
Shyam bought a chair for ₹1,563 and spent ₹350 on its repairing. He sold it for ₹2,398. Find his profit percentage (correct to two places of decimals).
- A chair is bought for ₹600 and sold for ₹750. Find the profit percentage.
- The difference between the cost price and the selling price of a table lamp is ₹540. If the profit is 30%, then the selling price (in) is:
- On selling 2800 school bags, Anita earns a profit equal to the sale price of 420 school bags. What is the gain percentage that Anita earned?
Note: round off to two decimal places - If the market price of a bedsheet is 24% above the cost price and a discount of 15% is declared on it, then find the gain percentage.
- Ram buys 13 balls for Rs.390 and sells them at the rate of Rs.33 per ball. Find his gain percentage.
- If the selling price of 10 chairs is the same as the cost price of 8 chairs, find the loss percentage.
Important Questions from Profit and Loss
Rohit buys 8 pens and 4 pencils for Rs. 2400. He sells pencils at a profit of 20 percent and pens at the loss of 10 percent. If his overall profit is Rs. 240, then what is the sum of the cost price of one pen and one pencil?
The cost price of an article is Rs.6,450. If it sold at a profit 16%, how much would be its selling price?
If the selling price of 7 articles is equal to the cost price of 6 articles, then what is the percentage loss?
An article when sold at a gain of 5%, yields Rs. 15 more than when sold at a loss of 5%. The cost price will be
What will be cost price of an item which when sold at the profit of 5% and at the loss of 5% the difference of selling prices be Rs. 60?
