Select the correct answerA used car dealer sells a car for Rs.7.6 lakhs and makes some loss. If he had sold if for Rs.9.2 lakhs his profit would been thrice his loss. What was the cost price of the car (in Rs lakhs)?Options8.58.2588.75
Question
Select the correct answerA used car dealer sells a car for Rs.7.6 lakhs and makes some loss. If he had sold if for Rs.9.2 lakhs his profit would been thrice his loss. What was the cost price of the car (in Rs lakhs)?Options8.58.2588.75
Solution
Let's solve this step by step:
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Let's assume the cost price of the car is 'x' lakhs.
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The dealer sells the car for Rs. 7.6 lakhs and incurs a loss. So, the loss is 'x - 7.6' lakhs.
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If the dealer sells the car for Rs. 9.2 lakhs, his profit is '9.2 - x' lakhs.
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According to the problem, the profit is thrice the loss. So, we can set up the equation: 9.2 - x = 3(x - 7.6)
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Solving this equation, we get: 9.2 - x = 3x - 22.8
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Simplifying, we get: 4x = 32
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Solving for 'x', we get: x = 8
So, the cost price of the car is Rs. 8 lakhs.
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