A used car dealer sells a car for Rs.7.6 lakhs and makes some loss. If he had sold if for Rs.9.2 lakhs his profit would been thrice his loss. What was the cost price of the car (in Rs lakhs)?Options8.758.58.258
Question
A used car dealer sells a car for Rs.7.6 lakhs and makes some loss. If he had sold if for Rs.9.2 lakhs his profit would been thrice his loss. What was the cost price of the car (in Rs lakhs)?Options8.758.58.258
Solution
Let's denote the cost price of the car as 'x'.
According to the problem, the dealer sells the car for Rs. 7.6 lakhs and makes a loss. This means that the cost price 'x' is more than Rs. 7.6 lakhs. So, we can write this as:
x - 7.6 = Loss (equation 1)
The problem also states that if the dealer had sold the car for Rs. 9.2 lakhs, his profit would have been thrice his loss. This means that the profit is 3 times the loss. We can write this as:
9.2 - x = 3 * Loss (equation 2)
Now, we can solve these two equations to find the value of 'x', which is the cost price of the car.
Substitute equation 1 into equation 2:
9.2 - x = 3 * (x - 7.6)
Solving this equation gives:
9.2 - x = 3x - 22.8
Adding 'x' to both sides and adding '22.8' to both sides gives:
4x = 32
Dividing both sides by 4 gives:
x = 8
So, the cost price of the car is Rs. 8 lakhs.
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