A person bought a horse and a carriage for Rs. 20,000. Later, he sold the horse at 20% profit and the carriage at 10% loss. Thus, he gained 2% in the whole transaction. The cost price of the horse was
Question
A person bought a horse and a carriage for Rs. 20,000. Later, he sold the horse at 20% profit and the carriage at 10% loss. Thus, he gained 2% in the whole transaction. The cost price of the horse was
Solution
Let's denote the cost price of the horse as H and the cost price of the carriage as C. We know that:
H + C = 20000 (since the total cost of the horse and carriage is Rs. 20,000)
We also know that the person sold the horse at a 20% profit and the carriage at a 10% loss. This means that:
1.2H + 0.9C = 1.02 * (H + C) (since the total gain from the transaction is 2%)
We can substitute the first equation into the second to get:
1.2H + 0.9C = 1.02 * 20000
Solving this equation gives us:
0.2H - 0.1C = 200
We can then substitute the first equation into this new equation to get:
0.2H - 0.1(20000 - H) = 200
Solving this equation gives us:
0.2H - 2000 + 0.1H = 200
Combining like terms gives us:
0.3H = 2200
Finally, solving for H gives us:
H = 2200 / 0.3 = Rs. 7333.33
So, the cost price of the horse was approximately Rs. 7333.33.
Similar Questions
A 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.)?6009001000None of these
A man sold a horse at a loss of 42.84%. How much percent should he gain in the next transaction so as to make an overall gain of 21.42%, if the two horses are bought at the same price?
A man sells two horses for Rs.1955 each. On one he gains 15% and on the other he loses 15%, His total gain or loss is
A villager buys a goat and a sheep together for Rs.14,250. He sold the sheep at a profit of 10% and the goat at a loss of 20%. If he sold both the animals at the same price, then what was the cost price of the cheaper animal?
Select the correct answerRam sold two horses at the same price. In one he gets a profit of 10% and in the other he gets a loss of 10%. Then Ram gets?OptionsNo loss or profit2% loss1% loss1% profit
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.