A house and a shop were sold for Rs. 1 lakh each. In this transaction, the house sale resulted into 20 percent loss whereas the shop sale into 20 percent profit The entire transaction resulted in

examrobotsa's picture

Submitted by examrobotsa on

Q: 107 (CDS-I/2004)
A house and a shop were sold for Rs. 1 lakh each. In this transaction, the house sale resulted into 20 percent loss whereas the shop sale into 20 percent profit The entire transaction resulted in

question_subject: 

Polity

question_exam: 

CDS-I

stats: 

0,9,13,8,5,9,0

keywords: 

{'percent profit': [0, 0, 1, 0], 'percent loss': [0, 0, 1, 0], 'shop sale': [0, 0, 1, 0], 'house sale': [0, 0, 1, 0], 'loss': [4, 3, 2, 4], 'lakh': [2, 1, 2, 7], 'gain': [0, 1, 2, 1], 'transaction': [0, 0, 1, 4], 'shop': [0, 0, 1, 1], 'house': [15, 3, 9, 18], 'entire transaction': [0, 0, 1, 0]}

In this transaction, we are given that the house was sold at a 20% loss and the shop was sold at a 20% profit. To find the overall result of the transaction, we need to calculate the net effect of both the loss and the profit.

Let`s assume the cost price of the house and the shop is x lakh each.

Since the house was sold at a 20% loss, its selling price would be 80% of its cost price. Therefore, the selling price of the house would be 0.8x lakh.

Similarly, the shop was sold at a 20% profit, so its selling price would be 120% of its cost price. Therefore, the selling price of the shop would be 1.2x lakh.

Now, let`s find the total selling price of both the house and the shop:

Total selling price = Selling price of house + Selling price of shop

= 0.8x + 1.2x

= 2x lakh

Given that the total selling price of the house and the shop is 1 lakh each, we can equate it to 2x and solve for x:

2x = 1 lakh

x = 1/2 lakh

Practice this on app