Select the correct answerA man purchased a carriage and horse in Rs.1500. By selling the horse at 10% loss and carriage at 20% profit he earned a profit of 8% on the whole transaction. What is the price of carriage (in Rs.)?Options400500650900
Question
Select the correct answerA man purchased a carriage and horse in Rs.1500. By selling the horse at 10% loss and carriage at 20% profit he earned a profit of 8% on the whole transaction. What is the price of carriage (in Rs.)?Options400500650900
Solution
Let's solve this step by step:
- The total cost of the horse and carriage is Rs. 1500.
- The man made an overall profit of 8% on the total cost, which means he sold the horse and carriage for Rs. 1500 + 8% of Rs. 1500 = Rs. 1620.
- Let's assume the cost of the horse is 'H' and the cost of the carriage is 'C'. So, H + C = Rs. 1500.
- The horse was sold at a 10% loss, which means it was sold for 90% of its cost. So, the selling price of the horse is 0.9H.
- The carriage was sold at a 20% profit, which means it was sold for 120% of its cost. So, the selling price of the carriage is 1.2C.
- The total selling price is the selling price of the horse plus the selling price of the carriage, which is Rs. 1620. So, 0.9H + 1.2C = Rs. 1620.
- We now have a system of two equations, and we can solve it to find the values of H and C.
Solving the system of equations:
From H + C = Rs. 1500, we can express H as H = 1500 - C.
Substitute H in the second equation: 0.9(1500 - C) + 1.2C = 1620.
Solving this equation gives C = Rs. 500.
So, the price of the carriage is Rs. 500.
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