Question

Ravi purchased a vehicle at ₹ 60,000. He sold it at a price 30% less than its value to Amit. Ravi also spent 5% of the price at which he sold to Amit in documents transfer. Find the overall Percentage loss in the entire transaction for Ravi.

• A.
• B.
• C.
• D.

Answer 1

The correct option is B

Amount at which Ravi sold the vehicle = ₹ 60,000 – $60,000\times \frac{30}{100}$= ₹42,000
Amount spent by Ravi on its document transfer = $42,000\times \frac{5}{100}$=₹ 2,100
Total amount spent by Ravi = ₹ 60,000 + ₹ 2,100 = ₹ 62,100

Overall loss = ₹ 62,100 - ₹ 42,000 = ₹ 20,100
Overall Percentage loss = $\frac{20100}{62100}\times$ 100= 32.36%