Question

Mike sold two horses for Rs18000 each. On one he gained 20% and on the other he lost 20%. Find his total gain or loss. Please tell me with full explanation ​

Answer 1

Step-by-step explanation:

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

1st horse was gain of 20% so it was sold for 120% of purchase price:1.2p = 18000

1st horse was gain of 20% so it was sold for 120% of purchase price:1.2p = 18000p = 18000/1.2 = 15000

1st horse was gain of 20% so it was sold for 120% of purchase price:1.2p = 18000p = 18000/1.2 = 15000Horse was bought for 15,000 and sold for 18,000... gain = Rs. 3000

3000

3000 2nd horse was a loss of 20% so it was sold for 80% of purchase price:

3000 2nd horse was a loss of 20% so it was sold for 80% of purchase price:0.8p = 18000

3000 2nd horse was a loss of 20% so it was sold for 80% of purchase price:0.8p = 18000p = 18000/0.8 = Rs. 22,500

22,500Bought for 22,500 and sold for 18000... los = Rs. 4,500

4,500

4,500 On one horse we gained 3000

4,500 On one horse we gained 3000On the other we lost 4500

4,500 On one horse we gained 3000On the other we lost 4500We have a net loss of Rs. 1,500

Answer 2

Answer:

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.