Question

mike sold two horses for Rs. 18000 each. On one he got a profit of 20% and on the other he lost 20%. find his total gain or loss

Answer 1

S.p=18000 gain 20%
C.P 15000
Sp 18000 loss 20%
Cp 22500
Total cp 37500
Total sp 36000
Loss 1500
Loss% = 4%

Answer 2

Answer:

Net loss = Rs.1500

Step-by-step explanation:

Given : Mike sold two horses for Rs. 18000 each. On one he got a profit of 20% and on the other he lost 20%.

To find : Mike total gain or loss ?

Solution :

→ 1st horse was gain of 20% so it was sold for 120% of purchase price:

$120\% \text{ of CP}=\text{SP}$

$1.2 \times \text{ CP}=18000$

$\text{ CP}=\frac{18000}{1.2}$

$\text{ CP}=15000$

Horse was bought for 15,000 and sold for 18,000

Gain  = SP-CP

Gain  = 18000-15000

Gain  = Rs.3000

→ 2nd horse was a loss of 20% so it was sold for 80% of purchase price:

$180\% \text{ of CP}=\text{SP}$

$0.8\times \text{ CP}=18000$

$\text{ CP}=\frac{18000}{0.8}$

$\text{ CP}=22500$

Bought for 22,500 and sold for 18000

Loss  = CP-SP

Loss  = 22500-18000

Loss = Rs.4,500

On one horse he gained Rs.3000

On the other he lost Rs.4500

We have a net loss of Rs.1,500