Question

Mike sold two horses for ₹18000 each. On one he gained 20% and on the other he lost 20%. Find his total gain or loss.

Answer 1

Hello mate

here's your answer

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Let the CP of each horses be x

in one horse he made gain =20%

=>20% of x

$= > \frac{20 x}{100}$
Hence,

$x + \frac{20x}{100} = 18000 \\ \\ \frac{100x + 20x}{100} = 18000 \\ \\ \frac{120x}{100} = 18000 \\ \\ x = \frac{1800000}{120 } \\ \\ x = 15000$
Cp of one horse is 15000.

In another horse loss =20%
20% of x
$= > \frac{20x}{100}$
Hence,

$x - \frac{20x}{100} = 18000 \\ \\ \frac{100x - 20x}{100} = 18000 \\ \\ \frac{80x}{100} = 18000 \\ \\ 80x = 1800000 \\ \\ x = \frac{1800000}{80} \\ \\x = 22500$
Total CP =>15000+22500
=>37500

Total SP =>18000+18000
=>36000

Loss =>CP - SP
=>37500-36000
=>1500
So, Total loss is 1500.

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Hope it helps you

Answer 2

Solutions :-

Given :
Mike sold two horses for ₹18000 each.

Find the cost price of one horse at gain of 20% :-

C.P = (S.P × 100)/(100 + gain)
= (18000 × 100)/(100 + 20)
= 1800000/120
= 15000

Now,
Find the cost price of other horse at loss of 20% :-

C.P = (S.P × 100)/(100 - loss)
= (18000 × 100)/(100 - 20)
= 1800000/80
= 22500

We have,
Selling price of two horse = Rs (18000 + 18000) = Rs 36000
Cost Price of two horse = Rs (15000 + 22500) = Rs 37500

Cost Price is greater than the selling price. Therefore, Loss.

Loss = C.P - S.P
= Rs (37500 - 36000)
= Rs 1500

Loss % = (loss × 100)/C.P %
= (1500 × 100)/36000 %
= 150000/36000 %
= 4.16 % approx.

Hence,
Loss = Rs 1500
His total loss percent = 4.16 %