Question

Kunal bought a car for Rs 25,00,000. He sold it to his friend Amit at a loss of 5%. After some time, he bought the same car from Amit by paying Rs 24,00,000. Find out his net profit or loss.
1. Rs 1,50,000
2. Rs 1,25,000
3. Rs 25,000
4. Rs 1,35,000

Answer 1

Correct Answer - Option 1 : Rs 1,50,000

Given

Cost price of car = Rs 25,00,000

Loss = 5%

Concept Used:

Loss = Cost price - Selling price

Calculation

Selling Price = 25,00,000 - 5% of 25,00,000

⇒ 25,00,000 - 1,25,000

⇒ 23,75,000

When bought same car, then again loss of Rs.25,000 .i.e (24,00,000 - 23,75,000)

∴ Total loss is Rs 1,50,000 (i.e. 1,25,000 + 25,000)