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Asked in a 2000 paper

A horse and a cow were sold for Rs. 12000 each. The horse was sold at a loss of 20 % and the cow at a gain of 20 %. The entire transaction resulted in___________?

Correct answer: B. Loss of Rs. 1000

  • A. No loss or gain
  • B. Loss of Rs. 1000
  • C. Gain of Rs. 1000
  • D. Gain of Rs. 2000

Explanation

For the horse, Rs. 12,000 is 80% of its cost price, so its C.P. was Rs. 12,000 ÷ 0.80 = Rs. 15,000. For the cow, Rs. 12,000 is 120% of its C.P., so its C.P. was Rs. 12,000 ÷ 1.20 = Rs. 10,000. Total C.P. = Rs. 25,000 and total S.P. = Rs. 24,000, giving a loss of Rs. 1,000; no loss is the likely mistaken option because both selling prices are equal.

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Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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