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 was ?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 ie 20000.
Price of horse = x
Price of camel = y
x+ y = 51250
SP of horse = (1/4)x + x = 5x/4
SP of camel = y - y/5 = 4y/5
SP = 5x/4 = 4y/5
25x = 16y
Now, cheaper animal is horse as SP has to be same.
Putting the value of x = 20000, the equations are satisfied.