Question

A milkman sold two of his buffaloes for 20000 each. On one he made a gain of 5% and in the other a loss of 10%. Find his overall gain or loss.

Answer 1

Given:

Selling price of each buffalo = Rs.20,000

gain = 5%

loss = 10%

To find :

    The overall gain or loss

Solution:

Let S.P. be Selling Price and C.P. be the Cost Price

Step 1 :

S.P. of two buffaloes = 20000 x 2 = Rs. 40,000

One buffalo is sold at 5% gain.

Let C.P. be Rs.100, then S.P. = 100 + 5 = Rs.105

because, When S.P. is Rs.105, then C.P. = Rs.100

Step 2 :

When S.P. is Rs.1, then C.P. = $\frac{100}{105}$  

Therefore,

When S.P. is Rs.20,000, then C.P.

                                            = $\frac{100}{105}$  × 20000 = Rs. 19,047.62

Step 3 :

  Another buffalo is sold at 10% loss. [ Given ]

  Let C.P. be Rs.100, then S.P. = 100 – 10 = Rs.90

  because, When S.P. is Rs.90, then C.P. = Rs.100

  Therefore,

   When S.P. is Rs.1, then C.P. = $\frac{100}{90}$

  Therefore, When S.P. is Rs.20,000, then C.P.

                                  = $\frac{100}{90}$ × 20000

                                  = Rs. 22,222.22

Step 4 :

Total C.P. = Rs.19,047.62 + Rs.22,222.22

                = Rs.41,269.84

Since C.P. >S.P. , here it is a loss.

Loss = C.P. – S.P.

         = Rs.41,269.84 – Rs. 40,000.00

         = Rs.1,269.84

Answer

           The overall loss is Rs.1,269.84