If a car is sold for Rs..50000 the profit?

Jestine Osumi: You can flip anything for profit, be it real estate, cars or anything else. The key is to buy only when the deal is ridiculously good, then take your time to find the right buyer (like the military guy who will drive 5 states) and sell for more. That said, what you're talking about is a bad idea for any number of reasons. Interest on payday loans is awful - up to $17.50/wk, per $100 borrowed. So....if you borrow $3K, you'll owe $500, just to break even. That's guaranteed, and you have to sell fast to even do that. What you can sell the car for........or even if you can sell it at all........that's not guaranteed. To sell it quick, you have to price it cheap (meaning you won't make much). To get a better price, it'll take a while...the right buyer isn't always easy to find....during which time the payday loan interest will rack up. Also, if your first deal is not a home run, or worse yet, you get scammed because you're looking for the unbelievable d! eal (and 98% of unbelievable deals are scams) - you'll lose it all, then get stuck with a big payday loan you can't pay that just compounds and puts you in deeper. If you're flipping anything, it's more effective if you have 4 or 5 of it at any given time. If one takes a while to sell, if you lose money on one (and you will, at least occasionally), it's not disastrous. If all you have is one - it is. Also keep in mind that your former roommate was already an experienced car salesman. You aren't. Know that it's not easy - if it was, everyone would do it. Short answer - it's not a bad idea, and you can make money at it. You need capital though - save up, wait 'til you can pay cash for a couple. If you're that convinced you can be successful now, sell something you already have (like your car), buy your inventory with the cash and drive it 'til you sell it. Trying to borrow at guaranteed exorbitant rates to try to profit for which there is no guarantee - that's a re! cipe for disaster. Good luck!...Show more

Rachal Osaki:! cost = x1.17x=50000 --->x = 42735if sold 47000 --->profit = 4265-->%profit = 9.98%

Mel Crapo: x is the purchase price50,000 = 1.17xx ≅ 42,735 If the car is sold for Rs 47000, the profit is 47,000 - 42,735 = 4,2654,265/47,000 ≅ 0.091profit is 9.1% of purchase price...Show more

Simona Bulwinkle: if Rs. 50000 is a profit of 17 percent, then Rs..50000 = 1.17 × (the original cost) This means (the original cost) = 42735.042... Selling it for Rs. 47000 is selling it for 1.0998 × (the original cost), or a profit percentage of 9.98.