A man buys a plot of land at rupees 3,60,000. He sells one third of the plot at loss of 20%. Again, he sells two-thirds of the plot left at a profit of 25%. At what price should he sell the remaining plot in order to get a profit of 10% on the whole? Answer is -1,50,000
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Cost of plot = Rs 3,60,000 (C)
Target sale value to achieve 10% profit on the whole plot = 360000 + (360000 x 0.1) = Rs 396000 (T)
Cost of 1/3 plot = 360000 ÷ 3 = Rs 120000 (c1)
Cost of 2/3 plot = 360000 - 120000 = Rs 240000
Cost of 2/3 plot of 2/3 (plot left after selling 1/3 plot) = 240000 x (2 ÷ 3) = Rs 160000 (c2)
20% loss amount on sale of 1/3 plot = 120000 x 0.2 = Rs 24000
Sale price of 1/3 plot = a - 24000 = Rs 96000 (s1)
Remaining plot is 2/3
Man sells 2/3 of this 2/3 plot at a profit of 25% = 160000 x 0.25 = Rs 40000
Sale price of 2/3 of 2/3 plot = 160000 + 40000 = Rs 200000 (s2)
Total sale value realized so far R = s1 + s2 = 96000 + 200000 = Rs 296000
Target sale value to achieve 10% profit on the whole plot = S (calculated above)
∴ Required sale price for the remaining plot = S - R
= 396000 - 296000
= Rs 100000
Target sale value to achieve 10% profit on the whole plot = 360000 + (360000 x 0.1) = Rs 396000 (T)
Cost of 1/3 plot = 360000 ÷ 3 = Rs 120000 (c1)
Cost of 2/3 plot = 360000 - 120000 = Rs 240000
Cost of 2/3 plot of 2/3 (plot left after selling 1/3 plot) = 240000 x (2 ÷ 3) = Rs 160000 (c2)
20% loss amount on sale of 1/3 plot = 120000 x 0.2 = Rs 24000
Sale price of 1/3 plot = a - 24000 = Rs 96000 (s1)
Remaining plot is 2/3
Man sells 2/3 of this 2/3 plot at a profit of 25% = 160000 x 0.25 = Rs 40000
Sale price of 2/3 of 2/3 plot = 160000 + 40000 = Rs 200000 (s2)
Total sale value realized so far R = s1 + s2 = 96000 + 200000 = Rs 296000
Target sale value to achieve 10% profit on the whole plot = S (calculated above)
∴ Required sale price for the remaining plot = S - R
= 396000 - 296000
= Rs 100000
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