Question

Two horses were bought at the same cost each. One was sold at the profit of 5% and the other was sold at the loss of 7%. If the actual difference of the selling prices were ₹144, what is the cost price of each horse?​

Answer 1

Answer:

The cost price of each horse is ₹1200.

Step-by-step explanation:

Let the cost price of a horse be $x$.

Remember that Selling price = Cost price +/- (Profit/Loss).

Given, one horse was sold at the profit of $5%$%.

The selling price of first horse is

$= x+(5$% of $x)$

$=x+0.05x$

$=1.05x$

The second horse was sold at the loss of $7$%.

The selling price of second horse is

$=x-(7$% of $x)$

$=x-0.07x$

$=0.93x$

The actual differences of the selling prices were $144$.

$\Rightarrow \left | 1.05x-0.93x \right |=144$

$0.12x=144$

$x=\frac{144}{0.12}$

$x=1200$

The cost price of each price is ₹$1200$.

Answer 2

Given,

Two horses were bought at the same cost each.

One was sold at the profit of $5$% and the other was sold at the loss of $7$%.

We have to find the cost price of each horse

Let cost price of the horse be $x$

According to the question,

One horse was selling at the profit of $5$%

The selling price of a horse $=$ cost price +profit%

$= x+5$% of $x$

$= x+\frac{5}{100}\times x$

$=x+0.05x$

$= 1.05x$

Second horse was selling at the loss of $7$%

The selling price of a second horse $=$ cost price-loss%

$= x-7$% of $x$

$= x-\frac{7}{100}\times x$

$= x-0.07x$

$=0.93x$

According to the question,

The actual difference of the selling prices were $144$ rupees

So,

$1.05x-0.93x=144$

$0.12x=144$

$x=\frac{144}{0.12}$

$x=1200$

Therefore, the cost price of the each horse is $1200$ rupees.