A person bought a car and sold it for Rs. 3, 00,000. If he incurred a loss of 20%, then how much did he spend to buy the car?
Rs. 3, 60,000
Rs. 3, 65,000
Rs. 3, 70,000
Rs. 3, 75,000
Traditional Method – SP = Rs 3,00,000; Loss% = 20%. CP = (SP × 100)/(100 – Loss%) =>P = 3,00,000 × 100 / 80 =>CP = Rs. 3, 75,000. So, option D is correct. Alternative method – Since loss is 20%, so 80% of CP = 3,00,000. => 0.8 CP = 300000 So CP = 3,75,000.
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