Mr Abhay sold his car at a loss of 30%.

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Profit and Loss

Question:

Mr Abhay sold his car at a loss of 30%. If he had sold it for ₹950 more, he would have received a profit of 8%. What is the cost price?

Options:

₹2500

₹3500

₹2000

₹1500

Correct Answer:

₹2500

Explanation:

Direct concept =

Loss% + Profit% = More amount he gets

30% + 8% = 950

38% of the CP = 950

100% of the CP = 950× \(\frac{100}{38}\) = 2500