Question
Download Solution PDFAt a village trade fair, a man buys a horse and a camel for a total amount of ₹5,125. He sold the horse at a profit of 25% and the camel at a loss of 20% If he had sold both the animals at the same price, then the cost price of the cheaper animal was:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Total cost (Horse + Camel) = ₹5,125
Profit on Horse = 25%
Loss on Camel = 20%
Formula used:
Let the cost price of the horse be ₹H and the cost price of the camel be ₹C.
H + C = ₹5,125
Selling price of horse = H + 0.25H = 1.25H
Selling price of camel = C - 0.20C = 0.80C
If both are sold at the same price, then:
1.25H = 0.80C
⇒ H = (0.80C) / 1.25
⇒ H = 0.64C
Substitute H in H + C = ₹5,125:
⇒ 0.64C + C = ₹5,125
⇒ 1.64C = ₹5,125
⇒ C = ₹5,125 / 1.64
⇒ C = ₹3,125
⇒ H = 0.64C = 0.64 × 3125 = ₹2000
Therefore, the cost price of the cheaper animal (Horse) is ₹2,000.
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