Question

A milkman sold two of his buffaloes for ₹ 20,000 each. On one he made a gain of 5% and on the other a loss of 10%. What is his overall gain or loss?

• A. A loss of ₹ 1,350.6
• B. A profit of ₹ 1,350.6
• C. A loss of ₹ 1,269.84
• D. A profit of ₹ 1,269.84

Answer 1

The correct option is C A loss of ₹ 1,269.84

Total selling price of two buffaloes
= ₹ 20,000 + ₹ 20,000 = ₹ 40,000

One Buffalo is sold at 5% gain. (given)

Selling price = profit + cost price
Let the cost price of this buffalo be $x$.

$\Rightarrow$ selling price = 5 % of x + x

$\Rightarrow$ 20,000 = $\frac{5}{100}\times x+x$

$\Rightarrow$ 20,000 = $\frac{105}{100}x$

$\Rightarrow$ x = ₹ 19,047.6

The other one is sold at a loss of 10 %. (given)

Selling price = cost price - loss
Let the cost of second buffalo be $y$.

$\Rightarrow$ selling price = y - 10 % of y

$\Rightarrow$ 20,000 = y - $\frac{10}{100}$y

$\Rightarrow$ 20,000 = $\frac{90}{100}y$

$\Rightarrow$ y = ₹ 22,222.2

Now, total cost price = x + y
= ₹ 19,047.6 + ₹ 22,222.2 = ₹ 41,269.8

Here, total cost price > total selling price
$\Rightarrow$ Overall loss = total cost price - total selling price
= ₹ 41,269.8 - ₹ 40,000 = ₹ 1,269.8

Therefore, the milkman had a loss of ₹ 1,269.8.