Question

Riya sold her car for Rs. $50,000$less than what she bought for and lost $8\%.$ At what price should she have sold the car, if she wanted to gain as much as she lost in the first transaction?

• A. Rs. $6,25,000$
• B. Rs$.6,50,000$
• C. Rs.$6,75,000$
• D. Rs.$6,37,000$
• E. Rs. $7,00,000$

Answer 1

The correct option is C

Rs.$6,75,000$

Finding the required price:

Rs. $50000$ is $8\%$ of $x$, where $x$ is cost price of the car. Therefore,

$$\begin{gathered} x\times \frac{8}{100}=50000 \\ x=\frac{50000\times 100}{8}=6,25,000 \end{gathered}$$

So, to gain what she lost in her first transaction, she should have sold the car at

Rs.$6,25,000+$ Rs. $50,000=$ Rs.$\mathbf{}\mathbf{6}\mathbf{,}\mathbf{75}\mathbf{,}\mathbf{000}$

Thus, option C is correct.