A person bought 10 cows and 05 horses in Rs. 10,000. If he sells each horse at 15% profit and each cow at 10% loss, he gains a profit of Rs. 375. Find the cost price of each horse and cow.
Answer & explanation
Correct answer: option 3
Let the cost of 05 horses =x
Cost of 10 cows = (10000 - x)
ATQ,
[x × 15%] - [(10000 - x) × 10%] = 375
[x × \(\frac{15}{100}\)] - [(10000 - x) × \(\frac{10}{100}\)] = 375
15 x - 100000 + 10 x = 375 × 100
25 x = 137500
x = 5500
Cost of 05 horses = x = 5500
Cost of 01 horse = \(\frac{5500}{5}\) = 1100
Cost of 10 cows = 10000 - x = 10000 - 5500
Cost of 01 cow = \(\frac{4500}{10}\) = 450