Question

A person sells one house for rs 75 lakhs, making profits of 25%. He sells another house at a loss of 20%, and on the whole he makes neither profit nor loss. What is the cost of the second house?

Answer 1

Answer:

Cost Price of 2nd House is Rs. 75 lakh

Step-by-step explanation:

Given:

Selling Price of 1st house = Rs. 75,00,000

Profit percentage on 1st house = 25%

Loss percentage on 2nd house = 20%

On whole transaction there is no profit no loss.

To find: Cost Price of the 2nd house.

On whole there is no profit no loss means Profit amount in 1st transaction is equal to loss amount ion 2nd transaction.

let x be the Cost Price of 1st house

So,

$Profit=\frac{SP-CP}{CP}\times100$

$25=\frac{7500000-x}{x}\times100$

$25x=750000000-100x$

125x = 750000000

x = 60,00,000

Profit Amount in selling of 1st house = 75,00,000 - 60,00,000 = Rs. 15,00,000

So loss amount in 2nd transaction = Rs. 15,00,000

Let, y is the Cost Price of second house.

$loss=\frac{Loss\:amount}{CP}\times100$

$20=\frac{1500000}{y}\times100$

20y = 150000000

y = 75,00,000

Therefore, Cost Price of 2nd House is Rs. 75 lakh