Question : On selling a car to Anuj, Aman suffered a loss of 10%. Anuj sold the car for Rs.5,54,400 suffering a loss of 12%. What would be the cost price of the car for Aman?
Option 1: Rs. 7,00,000
Option 2: Rs. 8,00,000
Option 3: Rs. 6,50,000
Option 4: Rs. 7,50,000
Correct Answer: Rs. 7,00,000
Solution :
Let the cost price of the car for Aman be Rs. $x$.
The selling price for Aman = the cost price for Anuj = $x×\frac{100-10}{100}=\frac{9x}{10}$
Now, the selling price for anuj = $\frac{9x}{10}×\frac{100-12}{100}=\frac{792x}{1000}$
According to the question,
$\frac{792x}{1000}= 554400$
⇒ $x=\frac{554400×1000}{792}$
$\therefore x=700000$
Hence, the correct answer is Rs. 7,00,000.
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