Question : At a village trade fair, a man buys a horse and a camel together for Rs. 51,250. He sold the horse at a profit of 25% and the camel at a loss of 20%. If he sold both the animals at the same price, then the cost price of the cheaper animal would be Rs. _____.
Option 1: 6,600
Option 2: 7,500
Option 3: 25,000
Option 4: 20,000
Correct Answer: 20,000
Solution :
Let the cost price of the horse as H and the cost price of the camel as C.
So, H + C = 51250____(i)
Given that he sold the horse at a profit of 25% and the camel at a loss of 20%, both for the same price.
The selling price of the horse is 125% of the cost price, and the selling price of the camel is 80% of the cost price.
1.25H = 0.8C
⇒ C = $\frac{1.25}{0.8}$H
⇒ C = 1.5625H____(ii)
From equation (i),
⇒ H + 1.5625H = 51,250
⇒ 2.5625H = 51,250
⇒ H = $\frac{51250}{2.5625}$ = Rs. 20,000
Hence, the correct answer is 20,000.
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