Ravi buys a car worth ₹5 lakhs. He drives it for few days and sells it for ₹3 lakhs. Find his overall profit or loss % in this transaction.

Profit, 32%

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Loss, 32%

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Loss, 40%

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profit, 40%

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Solution

The correct option is C Loss, 40%
Cost price of car = ₹5 lakhs
= ₹500000.
He sold it for ₹3 lakhs = ₹300000 .
Loss = S.P - C.P = 5 lakhs - 3 lakhs
= ₹ 200000.
$L o s s % = \frac{L o s s}{C . P} \times 100$
$L o s s % = \frac{200000}{500000} \times 100 = 40$

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Ravi buys a car worth ₹5 lakhs. He drives it for few days and sells it for ₹3 lakhs. Find his overall profit or loss % in this transaction.

The correct option is C Loss, 40%Cost price of car = ₹5 lakhs = ₹500000. He sold it for ₹3 lakhs = ₹300000 . Loss = S.P - C.P = 5 lakhs - 3 lakhs = ₹ 200000. Loss%=LossC.P×100 Loss%=200000500000×100=40

The correct option is C Loss, 40%
Cost price of car = ₹5 lakhs
= ₹500000.
He sold it for ₹3 lakhs = ₹300000 .
Loss = S.P - C.P = 5 lakhs - 3 lakhs
= ₹ 200000.
$L o s s % = \frac{L o s s}{C . P} \times 100$
$L o s s % = \frac{200000}{500000} \times 100 = 40$