Question

Mr. Akbar purchased a car at Rs.2,00,000 and sold it to Mr. Shivam at a loss of 15 %. After 3 months, he purchased the same car from Shivam at Rs.1,80,000. Find out his total profit or loss percentage.
1. 10 % loss
2. 10 % profit
3. 20 % loss
4. 20 % profit
5. No profit/ no loss

Answer 1

Correct Answer - Option 3 : 20 % loss

Given:

Cost price of car= Rs.2,00,000

Sold at a loss of15 %

Formula used:

Loss/profit % = [(profit/loss) × 100]/cost price

Calculation:

C.P. is Rs.2,00,000

S.P. = C.P. – Loss

= Rs. 2,00,000 – 15 % of 2,00,000

= Rs.170,000

New C.P. = Rs.1,80,000

Total  loss : Rs.30,000 + Rs.10,000

= Rs.40000

Loss % = (40000/200000) × 100

= 20 %