A farmer bought a buffalo for ₹ 44000 and a cow for ₹ 18000. He sold the buffalo at a loss of 12% but made a profit of 25% on the cow. Calculate by how much the profit or loss faced by the farmer from this transaction
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A farmer bought a buffalo for ₹ 44000 and a cow for ₹ 18000. He sold the buffalo at a loss of 12% but made a profit of 25% on the cow. Calculate by how much the profit or loss faced by the farmer from this transaction
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Given that,
The cost price of cow = ₹ 18000
Profit percent on cow = 25%
We know that,
.
.
.
Profit = 25 × 180
Profit = ₹ 4500
Then, Profit = Selling price (SP) – Cost price (CP)
4500 = SP – 18000
SP = 4500 + 18000
SP of cow = ₹ 22500
Cost price of buffalo = ₹ 44000
He sold the buffalo at a loss of 12%
We know that,
.
.
.
Loss = 12 × 440
Loss = ₹ 5280
Loss = CP – SP
₹5280 = ₹44000 – SP
SP = 44000 – 5280
SP of buffalo = ₹ 38720
Now,
Total cost price of both buffalo and cow = ₹ 44000 + ₹ 18000 = ₹ 62000
Total selling price of both buffalo and cow = ₹ 38720 + ₹ 22500 = ₹ 61,220
The selling price of both buffalo and cow is less when compared to cost price,
So, Loss = CP – SP
= ₹ 62000 – ₹ 61220
Loss = ₹ 780