A car was bought for Rs. 200000 after one year it was sold for Rs. 120000, by what percentage was the price reduced at the time of selling?

20%

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30%

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40%

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50%

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Solution

The correct option is C
40%

Original price = Rs. 200000

Reduced price = Rs. 120000

Decrease in price = Rs. 80000

Percentage decrease = (80000/200000) $\times$ 100% = 40%

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