csateasy
A person bought a car and sold it for Rs. 3,00,000. If he incurred a loss of 20%, then how much did he spend to buy the car ?
- A.Rs. 3,60,000
- B.Rs. 3,65,000
- C.Rs. 3,70,000
- D.Rs. 3,75,000
▶ Answer & Explanation
Correct answer: D. Rs. 3,75,000
When a loss of 20% is incurred on selling an item, it means the selling price represents 80% of the original cost price. Given the selling price is Rs. 3,00,000, to find the cost price, we can calculate (3,00,000 / 80) * 100, which yields Rs. 3,75,000.
Source: UPSC csat 2020