If Soham while selling two goats at the same price, makes a profit of 10% on one goat and suffers a loss of 10% on the other one (UPSC 2014)
Question
If Soham while selling two goats at the same price, makes a profit of 10% on one goat and suffers a loss of 10% on the other one (UPSC 2014)
Solution
To solve this problem, we'll break it down step by step:
1. Break Down the Problem
- Let the selling price (SP) of each goat be .
- Let the cost price (CP) of the first goat be and the cost price of the second goat be .
- A profit of 10% on the first goat means:
- A loss of 10% on the second goat means:
2. Relevant Concepts
From the above equations, we can relate the cost prices to the selling price:
- From the first goat:
- From the second goat:
3. Analysis and Detail
-
The total cost price (CP) of both goats is:
-
To combine these fractions, find a common denominator:
-
The total selling price (SP) of both goats is:
4. Verify and Summarize
- The overall profit or loss can be calculated as: Substituting the values:
Final Answer
Soham incurs an overall loss of approximately 0.99%.
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