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A milkman sold two of his buffaloes for Rs.\( \ 20,000 \) each. On one 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)
Given:
A milkman sold two of his buffaloes for Rs.\( \ 20,000 \) each. On one he made a gain of \( 5 \% \) and on the other a loss of \( 10 \% \).
To do:
We have to find his overall gain or loss.
Answer:
Selling price of one buffalo $(SP)=Rs.\ 20000$
Profit $ \% = 5 \%$
Cost price of one buffalo $= \frac{100 \times SP}{(100 + 5)}$
$= 100 \times \frac{20000}{105}$
$= Rs.\ 19,047.62$
SP of the buffalo $=Rs.\ 20000$
Loss $ \% = 10 \%$
Cost price of the other buffalo $=\frac{100 \times SP}{100 - 10}$
$= 100 \times\frac{20000}{90}$
$= 22,222.22$
Therefore,
Total cost price of two buffaloes $= Rs.\ (19,047.62 + 22,222.22) = Rs.\ 41269.84$
Total selling price of two buffaloes $= Rs.\ (20000 + 20000) = Rs.\ 40000$
Here,
Total SP $<$ Total CP
So, there is a loss.
Loss $=$ CP $-$ SP
$=41269.84 - 40,000$
$= Rs.\ 1269.84$
Hence, his overall is Rs. 1269.84.