Discussion
A person bought a car and sold it for ₹ 5,70,000. If he incurred a loss of 5%, how much did he spend to buying it?
Answer: B
He spent ₹ 6,00,000 on the car.
A loss of 5% means the selling price is 95% of the cost price.
\[ \begin{aligned} 0.95 \times CP &= 5{,}70{,}000 \\ CP &= 6{,}00{,}000 \end{aligned} \]
Check: 5% of 6,00,000 is 30,000, and 6,00,000 − 30,000 = 5,70,000. Taking 5% of the selling price and adding it back gives 5,98,500, which is the classic mistake but not an option; 7,50,000, 5,00,000 and 4,50,000 do not give a 5% loss at all.
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