Question

The monk sold his Ferrari for ₹ 240 Million. He suffered a loss of 40%. What was the price in which he had bought his Ferrari?

• A. ₹ 360 Million
• B. ₹ 400 Million
• C. ₹ 420 Million
• D. ₹ 300 Million

Answer 1

The correct option is B

₹ 400 Million

SP of the Ferrari = ₹ 240 Million

Loss % = 40%

Let the CP of the Ferrari be ₹ $x.$

$\Rightarrow x-\frac{40x}{100}$ = ₹ 240 Million

$\Rightarrow \frac{60x}{100}=₹240$ Million

$\Rightarrow x=₹\left(\frac{240\times 100}{60}\right)$ = ₹ 400 Million

Hence, he bought the Ferrari for ₹ 240 Million.