If Ravi had bought a car for Rs.3,00,000 and sold it to his friend for Rs. 2,80,000, does he get a profit or a loss?

Profit

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Loss

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Solution

The correct option is B Loss
CP of the car = Rs. 3,00,000
SP of the car = Rs. 2,80,000
Since CP > SP, Ravi makes a Loss

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