Question 56

A car dealer purchased an old car for Rs.1,08,500 and spent some amount on its maintenance. He sold it for Rs.1,56,250, there by earning a profit of 25%. How much money did he spend on the maintenance of the car?

Solution

Total cost price of old car = 1,08,500 + maintenance money

Selling price = 1,56,250

Profit = 25%

Total cost price = $$\frac{156250}{125} \times 100 = 125000

1,08,500 + maintenance money = 125000

Maintenance money = 125000 - 108500 = Rs. 16,500

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