A man buys land for Rs 3,00,000. He sells 1/3rd of it at a loss of 20% and 2/5th of the plot at a gain of 25%. At what price should he sell the remaining land so as to make an overall profit of 10%?
Given: A man buys land for Rs 3,00,000.
He sells $\frac{1}{3}$ of it at a loss of 20% and $\frac{2}{5} $ at a gain of 25%.
To do: At what price should he sell the remaining land so as to make an overall profit of 10%
Solution:
Cost price of total land = CP = 3,00,000
CP of $\frac{1}{3}$rd land = $\frac{1}{3} \times 3,00,00 = 1,00,000$
SP at a loss of 20% = $1,00,000 \times \frac{100 - 20}{100}$
= $1,00,000 \times \frac{80}{100}$
= 80,000
CP of $\frac{2}{5}$ th land = $\frac{2}{5} \times 3,00,00 = 1,20,000$
SP at a gain of 25% = $1,20,000 \times \frac{100 + 25}{100}$
= $1,20,000 \times \frac{125}{100}$
=$1200 \times 125$
= $1,50,000$
CP or remaining land = $3,00,000 - 1,00,000 -1,20,000$ = 80,000
Overall 10% gain on CP or 3,00,000
SP = $3,00,000 \times \frac{100 + 10}{100} =3,30,000$
He should sell the remaining plot at
$3,30,000 - 80,000 - 1,50,000 = 1,00,000$
He should sell the remaining plot at
Rs 1,00,000 so that he gains overall 10%
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