By selling a car for Rs.2,78,000, a dealer gains 25%. If the profit is reduced to 18%, then the selling price will be:
Answer & explanation
Correct answer: option 1
According to the question,
Cost price × (\(\frac{125}{100}\)) = 278000
⇒ Cost price = 278000 × (\(\frac{100}{125}\))
Now,
For 18% profit selling price = 278000 × (\(\frac{100}{125}\)) × (\(\frac{118}{100}\))
⇒ Rs. 2,62,432