Question

A man sells two horses for Rs.11900. The cost price of the first is equal to the selling price of the second. If the first is sold at 30% loss and the second at 25% gain, what is his total gain or loss (in rupee)
\[\begin{align}
  & 1.~Rs.600\text{ }loss \\
 & 2.Rs.700\text{ }loss \\
 & 3.~Rs.750\text{ }loss \\
 & 4.~Rs.650\text{ }loss \\
\end{align}\]

Answer 1

Hint: To solve this question, we need to know the basic concept of profit and loss and their formulas. In the given problem, we have given that a man sold his two horses for Rs.11900 and the cost price of the first is equal to the selling price of the second. If the first is sold at 30% loss and the second at 25% gain, we need to find his total gain or loss (in rupee). We consider 1st and 2nd selling price(S.P) and considering the given statements and simplifying with respect to those statements and calculating the cost price(C.P) , after that we can determine man’s loss or gain in rupees.

Complete step-by-step solution:
Let us solve the question
Given the two-horse selling price = 11,900
Let us assume 1st S. P
Second horse 2nd S. P\[=\left( 11,900-x \right)\]
From the given problem, we have
1st horse C. P= 2nd horse S.P
Then,\[\dfrac{x\times 100}{70}=\left( 11,900-x \right)\]
\[\begin{align}
  & \Rightarrow 10x=\left( 11,900-x \right)\times 7 \\
 & \Rightarrow 10x=83300-7x \\
 & \Rightarrow 10x+7x=83300 \\
 & \therefore x=4900 \\
\end{align}\]
1st selling price (S.P) = 4900.
We have, 1st horse C. P\[\Rightarrow \dfrac{4900\times 100}{70}\]\[=7000\]
Second horse C. P\[\Rightarrow \dfrac{\left( 11,900-4900 \right)}{125}\times 100=\dfrac{7000\times 100}{125}=5600\].
Total C. P= \[7000+5600=12,600\]
 The total cost price is Rs.12,600.
Then lose\[=12600-11900=700\]
The man’s total loss is Rs. 700 loss.
Option(b) is correct answer.

Note: The common errors made by the students are confused about the cost price and selling price and their concepts and basic formulas. Understanding the given question is important in profit and loss concepts.