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A man sells a horse for Rs.800 and loses something, if he had sold it for Rs.980, his gain would have been double the former loss. Find the cost price of the horse?

Correct answer: D. Rs.860

  • A. Rs.900
  • B. Rs.875
  • C. Rs.850
  • D. Rs.860

Explanation

Let the cost price be Rs.x. The loss at Rs.800 is Rs.x - Rs.800, while the gain at Rs.980 is Rs.980 - Rs.x; hence Rs.980 - x = 2(x - Rs.800), giving Rs.2,580 = 3x and x = Rs.860. Students often choose a by assuming the cost price is halfway between the two selling prices, which does not satisfy the double-loss condition.

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About Profit and Loss

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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