A man bought a car for Rs. 442,500 at a 25% discount. How much profit or loss did he make from its original price if he sold it for Rs. 400,000?
- Loss of Rs. 190,000
- Loss of Rs. 42,500
- Profit of Rs. 42,500
- Loss of Rs. 90,000
To solve this question, we need to find the original price of the car before the discount. We can use the formula:
Original price = Discounted price / (1 – Discount rate)
Plugging in the given values, we get:
Original price = 442,500 / (1 – 0.25) Original price = 442,500 / 0.75 Original price = 590,000
This means that the car was originally priced at Rs. 590,000 and the man got a discount of Rs. 147,500.
Now, to find the profit or loss, we need to compare the selling price with the original price. We can use the formula:
Profit or loss = Selling price – Original price
Plugging in the given values, we get:
Profit or loss = 400,000 – 590,000 Profit or loss = -190,000
This means that the man made a loss of Rs. 190,000 by selling the car for Rs. 400,000 while its original price was 590,000Rs
Therefore, the correct answer is that the man made a loss of Rs. 190,000.
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