Question

Mohan bought a new car from the showroom and after one year he sold it to Shyam at a profit of 20 percent. Shyam sold the same car to Sumit at the loss of 30 percent. Finally Sumit paid Rs. 67200 for this car. At what price Mohan bought the car?
1. Rs. 88000
2. Rs. 85000
3. Rs. 80000
4. Rs. 72000

Answer 1

Correct Answer - Option 3 : Rs. 80000

Given:

The Sumit paid = Rs. 67200

Formula used:

\(GM\% =\ {GM\over TM}× 100\)

(Where GM = Gain marks and TM = Total marks)

Calculation:

Let us assume Mohan bought a car at price P

⇒ Shyam purchase the car from Mohan at = P × (120/100) = 6P/5

⇒ Sumit purchase the car from Sumit at = (6P/5) × (70/100) = 84P/100

⇒ 84P/100 = 67200

⇒ P = \({67200\ \times\ 100 \over 84 }\) = 80000

∴ The required result will be 80000.