A vehicle dealer bought 5 second hand SUV’s for Rs. 18,00,000. He spent Rs. 2,00,000 additional on the maintenance and repairing of these 5 SUV’s. He sold one of the SUV for Rs. 5,00,000. What should be the average selling price of rest of the four SUV’s, if he makes 35% profit on the whole transaction?a.525000b.500000c.512000d.550000
Question
A vehicle dealer bought 5 second hand SUV’s for Rs. 18,00,000. He spent Rs. 2,00,000 additional on the maintenance and repairing of these 5 SUV’s. He sold one of the SUV for Rs. 5,00,000. What should be the average selling price of rest of the four SUV’s, if he makes 35% profit on the whole transaction?a.525000b.500000c.512000d.550000
Solution
Sure, let's solve this step by step:
Step 1: Calculate the total cost of the SUVs including the maintenance and repair. The dealer bought the SUVs for Rs. 18,00,000 and spent an additional Rs. 2,00,000 on maintenance and repair. So, the total cost is Rs. 18,00,000 + Rs. 2,00,000 = Rs. 20,00,000.
Step 2: Calculate the total selling price for all 5 SUVs to make a 35% profit. The dealer wants to make a 35% profit on the total cost. So, the total selling price should be Rs. 20,00,000 + 35% of Rs. 20,00,000 = Rs. 20,00,000 + Rs. 7,00,000 = Rs. 27,00,000.
Step 3: Calculate the total selling price for the remaining 4 SUVs. The dealer has already sold one SUV for Rs. 5,00,000. So, the total selling price for the remaining 4 SUVs should be Rs. 27,00,000 - Rs. 5,00,000 = Rs. 22,00,000.
Step 4: Calculate the average selling price for the remaining 4 SUVs. The average selling price for the remaining 4 SUVs should be Rs. 22,00,000 / 4 = Rs. 5,50,000.
So, the average selling price for the remaining 4 SUVs should be Rs. 5,50,000. Therefore, the answer is (d) Rs. 5,50,000.
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