Ram bought a Swift D rsquo zire car with an exchange offer The sale price of the car was Rs 8 lacs ...........

Quant (SSC) Profit and loss

Ram bought a Swift D’zire car with an exchange offer. The sale price of the car was Rs. 8 lacs. He availed 20% discount from the showroom and then 10% reduction in price for his old car. He spent 10% of the cost on the interiors and stereo system. After a month he sold the car to his friend Dev for Rs. 6.4 lacs. Find his profit or loss percentage into this transaction.

10%

1.5%

1.01%

1.4%

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Explanation:

Selling price of the car = Rs. 800000
Price after first discount of 20% = 800000 – 20% of 800000 = Rs. 640000
Price after second discount of 10% = 640000 – 10% of 640000 = Rs. 576000
Now, he spent 10% of cost price on the interiors.
Total cost price = 576000 + 10% of 576000 = Rs.633600
Profit percentage earned by selling it at Rs. 640000
= 640000 – 633600 /633600 × 100 = 1.01