A person bought a horse and a carriage for Rs.,20000. Later, he sold horse at 20 % profit and carria

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7.Profit and Loss

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A person bought a horse and a carriage for $Rs.\,20000.$ 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 (in $Rs.$)

$7200$

$7500$

$8000$

$9000$

Let, the price of horse be $₹ x$

$\therefore$ Price of carriage $=₹(20000-x)$

Now, according to the question,

$\frac{x \times 120}{100}+\frac{(20000-x) \times 90}{100}=20000\left(1+\frac{2}{100}\right)$

$\Rightarrow \frac{120 x}{100}+\frac{20000 \times 90-90 x}{100}=20400$

$\Rightarrow 1.2 x+18000-0.9 x=20400$

$\Rightarrow 0.3 x=2400 \Rightarrow x=8000$

$\Rightarrow$ cost price of horse $=₹ 8000$

Standard 13

Quantitative Aptitude

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