Multiple choice

A man bought two horses for Rs. 30,000 each. He sold one of them at a profit of 20% and the other one at a loss of 10%. What was his net profit/loss? By what percentage would the previous gain/loss would have increased/decreased if he had sold the first horse at a profit of 25% and the second at a loss of 21%?

  1. 5%, 70%

  2. 5%, 60%

  3. 6%, 70%

  4. 7%, 80%

  5. 60%, 5%
Reveal answer Fill a bubble to check yourself
B Correct answer
AI explanation

The man buys the two horses for 30000 each, totaling 60000. He sells one for a 20 percent profit, which is 36000, and the other for a 10 percent loss, which is 27000, making the total selling price 63000. The net profit is 3000 on a cost of 60000, which is a 5 percent gain. If he sold the first at a 25 percent profit the selling price would be 37500, and the second at a 21 percent loss the selling price would be 23700, totaling 61200, making the net profit 1200. This new gain of 1200 compared to the previous gain of 3000 is a decrease of 1800, and (1800 divided by 3000) times 100 equals a 60 percent decrease.

Keep practicing — related questions