A milkman sold two of his buffaloes for Rs. 20000 each. On one he made a gain of 5% and on the other a loss of 10%. Find his overall gain or loss.
Answers
Given cost of buffaloes = Rs 20000 each
Gain on one buffalo = 5%
Recall selling price,
= Rs 21,000
Loss on second buffalo = 10%
Recall selling price,
= Rs 18,000
Total cost price = Rs 40,000
Total selling price = Rs 21,000 + Rs 18,000 = Rs 39,000
Since total cost price < total selling price, we get a loss
Overall loss = Rs 40000 – Rs 39000 = Rs 1000
First Case when made profit 4%
Sp=Rs20000
P%= 5%
SP=(1+Profit/100)×CP
Rs20000={1+(4/100)}×CP
Rs20000={(100+4)/100}×CP
Rs20000={104/100}×CP
Rs20000×100÷104=cp
Rs2000000÷104=cp
Rs400000/21=cp
second Case when made loss 10%
Sp=Rs20000
L%= 10%
SP=(1-Loss/100)×CP
Rs20000={1-(10/100)}×CP
Rs20000={(100-10)/100}×CP
Rs20000={90/100}×CP
Rs20000×100÷90=cp
Rs2000000÷90=cp
Rs200000\9=cp
Total CP=Rs400000/21 +Rs200000\9
Total CP=(1200000+1400000 )÷63 ∵(LCM of 21 and 9 =63)
Total CP=2600000/63
Total SP= 20000×2=40000
∴loss=(2600000/63)-40000 {loss=CP-SP}
∴loss=(2600000-2520000)/63
∴loss=80000/63
∴loss %=(80000/63)÷(2600000/63) ×100 ∵(loss%=loss÷cp×100)
∴loss %=(80000÷2600000) ×100 (do the cancellation)
∴loss %=40/13 %=3.076% or convert it in to mixed fraction ANS