7 A milkman sold two of his buffaloes for Rs 20,000 each. On one hand, he made a gain of 5% and on the other a loss of 10% Find his overall gain or loss. (Hint: Find CP of each)
The milkman sold two of his buffaloes for Rs 20,000 each. This is the Selling price of the buffaloes.
Let CP of one of the buffalo be Rs. X and the other be Rs. Y
Since he made a profit of 5% on one of them.
105% of X = Rs. 20000
X = Rs. 19047.6
Similarly, since he made a loss of 10% on the other.
90% of Y = Rs. 20000
Y = Rs. 22222.2
Net CP = Rs.(19047.6 + 22222.2) = Rs. 41269.8
And net SP = 2 x Rs.20000 = Rs. 40000
Since SP < CP, he made a net loss.
His overall loss = Rs. (41269.8 - 40000) = Rs. 1269.8 = Rs. 1270 (approx)
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