Question

A farmer purchased a piece of land for rs 1350.He sold one-third of it at a loss of 6%. At what profit percent should he sell the remaning piece of land in order to gain 10% on the whole land?

Answer 1

Let the cost price of land be CP

Let the selling price of land be SP

Given,

Cost price of land = 1350 Rs

Loss % = 6%

We know,

CP of 1/3rd = 1/3*1350

= 450 Rs

After 6% loss,

SP = 450*94/100

= 423 Rs

For a 10% profit on the whole land,

He should sell at,

= 1350*110/100

= 1485 Rs

Total price at which he has to hold the remaining land = Final price - SP

= 1485 - 423

= 1062 Rs

Now,

Cost of 2/3 land = 2/3*1350

= 900 Rs

Total gain % = {(Selling - Buying)/(Buying)}*100

= {(1062-900)/900}*100

= 18%

So he has to sale the remaining land at 18% profit.