Question

A milkman sold two of his buffaloes for ₹ 20,000 each. On one he made a gain of 5% and on the other a loss of 10%. Find his overall gain or loss. [Hint: Find CP of each​

Answer 1

Step-by-step explanation:

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Answer 2

Selling price of the first buffalo = ₹ 20,000

Percentage of profit gained by selling it = 5%

We know that :-

$CP = \frac{100}{100 + profit} \times SP$

Which means, the cost price of the first buffalo :-

$= \frac{100}{100 + 5} \times 20000$

$= \frac{100 \times 20000}{105}$

$= \frac{2000000}{105}$

$= \frac{2000000 \div 5}{105 \div 5}$

$= \frac{400000}{21}$

$=\bold{ ₹ \: 19047.61}$

Thus, the cost price of the first buffalo = ₹ 19,047.61

Selling price of the second buffalo =₹ 20,000

Percentage of loss faced by selling it = 10%

We know that :-

$CP = \frac{100}{100 - loss} \times SP$

Which means, the cost price of the second buffalo :-

$= \frac{100}{100 - 10} \times 20000$

$= \frac{2000000}{90}$

$= \frac{200000\cancel0}{9\cancel0}$

$= \frac{200000}{9}$

$=\bold{₹ \: 22222.23}$

Total cost price of both the buffaloes :-

$= 19047.61 + 22222.23$

$= \bold{₹ \: 41269.84}$

Thus, the total cost price of both the buffaloes = ₹ 41,269.84

Total selling price of both the buffaloes :-

$= 20000 + 20000$

$= \bold{₹ \: 40000}$

Thus, the total selling price of both the buffaloes = ₹ 40,000

As the cost price is greater than the selling price, the farmer had to face a loss.

We know that :-

$loss = CP - SP$

Which means, the overall loss the farmer had to face :-

$= 41269.84 - 40000$

$= \bold{₹ \: 1269.84}$

Thus, the overall loss of the farmer = ₹ 1269.84

Therefore, the overall loss the farmer had to face = ₹ 1269.84