Question : A man sells two cows for Rs. 15,640 each, gaining 15% on one and losing 15% on the other. Find his total gain or loss.
Option 1: Rs. 720 loss
Option 2: Rs. 360 loss
Option 3: Rs. 720 gain
Option 4: Rs. 360 gain
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Correct Answer: Rs. 720 loss
Solution :
The cost price of the cow that's sold at 15% profit = $\frac{15640}{ (100+15\%)}$ = Rs. 13600
Profit incurred = 15650 – 13600 = Rs. 2040
The cost price of the cow that's sold at 15% loss = $\frac{15640}{ (100-15\%)}$= Rs. 18400
Loss incurred = 18400 – 15640 = Rs. 2760
$\therefore$ Total Loss = 2760 – 2040 = Rs. 720
Hence, the correct answer is a Rs. 720 loss.
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