one man purchases a farmland of rs 20000. he sold 1/5 of farmland at loss of 25%, 3/8 of the farmland at 25% profit, then at what price should he sell the remaining land to make a total profit of 10%?
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Answer: Rs 9625.
Step-by-step explanation:
Cost Price = Rs 20000.
In order to gain 10% on the entire land the selling Price = Rs 20000 + 10% of 20000 = Rs. 22000.
He sold 1/5th of the land at a loss of 25% .
∴ Selling Price of 1/5th of the land = (20000/5) - 25% of (20000/5) = Rs. 3000.
He sold 3/8 tho of the land at a gain of 25%.
Selling Price of 3/8th of the land = (20000 * 3)/8 + 25% of (360000*3)/8 = Rs. 9375.
∴ The Selling Price of the balance land is 22000 - 3000 - 9375 = Rs. 9625.
The selling price of the balance land should be Rs 9625 in order to make a total profit of 10%.
Hope this helps.
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