"> Word Problem 1 | Job Exam Rare Mathematics (JEMrare)

Word Problem 1

Problem 1: By selling a horse for Rs 75 a man would lose 4%. For what amount should he sell it to gain 20%?



Solution:

First we need to know the cost price, which we will try to find by the help of given condition.

Let cost price (CP) = y

If he selling for loss then given;

Loss is 4% of CP

Using loss formula

L=CP-SP

\frac{4}{100}\times y =y-SP

\Rightarrow SP=y-\frac{y}{25}

\Rightarrow SP=\frac{24y}{25}

But SP is Rs 75

\Rightarrow 75=\frac{24y}{25}

\Rightarrow y=\frac{25}{24}\times75=78.125Rs

\Rightarrow y=78.125Rs

 

20% Profit case

Now we have readily found the cost price of the horse i-e

CP = 78.125

If he wnat to earn Profit of 20 % (of cost price) then

P= 20% of CP

P=\frac{20}{100}\times CP

P=\frac{20}{100}\times 78.125

P=15.625

Now to find sale price for 20% profit we use profit formula

P=SP-CP

\Rightarrow SP=P+CP

\Rightarrow SP=15.625+78.125=93.75 Rs

So to earn 20 % profit he will have to sell his horse for Rs 93.75.