Subject: General Aptitude · Chapter: Profit and Loss · Exam: · Marks: · Difficulty:
A man sells two horses for ₹ 1475 . The cost price of the first is equal to the selling price of the second. If the first is sold at 20\% loss and the second at 25\% gain, what is his total gain or loss (in rupees)?
(a)₹ 60 loss
(b)₹ 80 gain
(c)₹ 60 gain
(d)Neither gain nor loss
Answer
Answer (as printed): D
Explanation
Let the S.P. of the first horse be ₹ $x$. Then, S.P. of the second horse $=₹(1475-x)$. C.P. of first horse $=₹(1475-x)$. Loss on first horse $=20 \%$. $$\begin{aligned} & \therefore \frac{80}{100} \times(1475-x)=x \Rightarrow 4(1475-x)=5 x \\ & \Rightarrow 9 x=5900 \Rightarrow x=\frac{5900}{9} . \end{aligned}$$ S.P. of second horse $=₹\left(1475-\frac{5900}{9}\right)=₹ \frac{7375}{9}$. C.P. of second horse $=₹\left(\frac{100}{125} \times \frac{7375}{9}\right)=₹ \frac{5900}{9}$. ∴ C.P. of 1st horse = S.P. of 2nd horse and C.P. of 2nd horse = S.P. of 1st horse. So, Total C.P. = Total S.P. Hence, there is neither gain nor loss.
Explanation as extracted from the printed page; notation may be imperfect.