New SIDBI Grade A New Batch Starts on Nov 18

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    Question

    Mohan bought a new car from the showroom and after one year he sold it to Shyam at a profit of 20 percent. Shyam sold the same car to Sumit at the loss of 30 percent. Finally Sumit paid Rs. 67200 for this car. At what price Mohan bought the car?

    A Rs. 72000 Correct Answer Incorrect Answer
    B Rs. 85000 Correct Answer Incorrect Answer
    C Rs. 80000 Correct Answer Incorrect Answer
    D Rs. 88000 Correct Answer Incorrect Answer

    Solution

    Let us assume Mohan bought a car at price P Shyam purchase the car from Mohan at = P × (120/100) = 6P/5 Sumit purchase the car from Sumit at = (6P/5) × (70/100) = 84P/100 = (84P/100) = 67200 P = [(67200 × 100)/84] = 8000

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