Question 17

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% inthe whole transaction. The cost price of the horse was

Solution

cost price of horse and carriage = 20000

assume CP for horse be x

then CP for carriage = 20000 - x

According to the question

$$ x \times \frac{120}{100} + (20000 - x) \times \frac{90}{100} = 20000 \times \frac{102}{100} $$

solving,

1.2x + 0.9(20000 - x) = 20400

x = $$ \frac{2400}{0.3} = 8000 $$

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