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A milkman sold two of his buffaloes for ₹ 20,000 each. On one he made a gain of 5% and on the other a loss of 10%. Find his overall gain or loss. (Hint: Find CP of each)

Solution:

S.P of each buffalo is ₹ 20,000

Number of buffaloes sold = 2

On selling Buffalo 1,  gain% made is = 5%

S.P = [(100 + Gain%)/100] × C.P.

Thus, on substituting the values,

20000 = (105/100) × C.P.

C.P. = 20000 × (100/105)

C.P. = 20000 × (20/21)

C.P. = ₹ 19,047.62

Thus, C.P. of buffaloe 1 = ₹ 19,047.62

Now, on selling Buffalo 2,  loss% made is = 10%

S.P = [(100 - Loss%)/100] × C.P.

On substituting the values,

20000 = (90/100) × C.P.

20000 = (9/10) × C.P.

C.P. = 20000 × (10/9)

C.P. = ₹ 22,222.22

Thus, C.P. of buffaloe 2 = ₹ 22,222.22

Total Cost Price of two Buffaloes = 19,047.62 + 22,222.22

= ₹ 41,269.84

We know that, total Selling Price of two buffaloes = ₹ 20,000 + ₹ 20,000 = ₹ 40,000

Therefore,

Loss = Cost Price - Selling Price

= 41,269.84 - 40000

= 1269.84

Loss = ₹ 1269.84

☛ Check: NCERT Solutions for Class 8 Maths Chapter 8

Video Solution:

A milkman sold two of his buffaloes for ₹ 20,000 each. On one he made a gain of 5% and on the other a loss of 10%. Find his overall gain or loss.

NCERT Solutions Class 8 Maths Chapter 8 Exercise 8.2 Question 7

Summary:

A milkman sold two of his buffaloes for ₹ 20,000 each. On one he made a gain of 5% and on the other a loss of 10%. The milkman incurred a loss of ₹ 1269.84 on the whole transaction.

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