Riya sold her car for 50000 less than what she bought it for and lost 8% at what price should she have sold her car, if she wanted to gain as much as she lost in the first transaction ?
Riya sold her car for 50000 less than what she bought it for and lost 8% at what price should she have sold her car, if she wanted to gain as much as she lost in the first transaction ?
A. 625000
B. 650000
C. 675000
D. 637000
E . 670000
Answer : C. 675000
Explanation :
Let Riya bought the car at Rs. x
so, cost price = x
Sold at Rs. 50000 less than Rs. x
so, selling price = x - 50000
Also, 50000 is 8% of x
50000 = 8/100 of x
50000 = 0.08x
or, x = 50000/0.08 = 625000
So, Riya bought at Rs. 625000.
To gain what she lost in her first transaction i.e., Rs 50000 she should have sold the car at
Rs. 625000 + 50000
= Rs. 6,75,000