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A 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)?Options88.758.58.25

Question

A 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)?Options88.758.58.25

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Solution

Let's denote the cost price of the car as 'x'.

According to the problem, the dealer sells the car for Rs. 7.6 lakhs and makes a loss. This means that the cost price 'x' is more than Rs. 7.6 lakhs. So, the loss is 'x - 7.6'.

The problem also states that if the dealer had sold the car for Rs. 9.2 lakhs, his profit would have been thrice his loss. This means that the profit, which is '9.2 - x', is equal to three times the loss, or '3(x - 7.6)'.

We can set up the equation as follows:

9.2 - x = 3(x - 7.6)

Solving this equation will give us the cost price 'x'.

First, distribute the 3 on the right side of the equation:

9.2 - x = 3x - 22.8

Then, rearrange the equation to get all terms involving 'x' on one side:

4x = 32

Finally, divide by 4 to solve for 'x':

x = 8

So, the cost price of the car is Rs. 8 lakhs.

This problem has been solved

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