A man sold his car for Rs. 540,000 with a 20% loss. At what price should he sell it to gain 7.5%?
Answer: Rs. 725,625
Explanation
Let cost price = x
Loss of 20% means:
540,000 = x × 0.80 → x = 540,000 ÷ 0.80 = 675,000
To gain 7.5%:
New selling price = 675,000 × 1.075 = Rs. 725,625
(But this seems inconsistent with the options — let’s double-check)
Correction:
540,000 is after a 20% loss, so:
Cost Price = 540,000 ÷ 0.80 = 675,000
Now for 7.5% profit, Selling Price = 675,000 × 1.075 = Rs. 725,625
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