A man buys a plot of land for rs 300000

Asked by admin @ 02/08/2021 in Math viewed by 260 People

A man buys a plot og agricultural land for rs 300000. He sells one third at a loss of 20% and two fifths at a gain of 25%. At what price must he sell the remaining land so as to make an overall profit of 10%?

Answered by admin @ 02/08/2021

Answer:

The selling price of the remaining land is 88000.

Step-by-step explanation:

Given : A man buys a plot of agricultural land for rs 300000. He sells one third at a loss of 20% and two fifths at a gain of 25%.

To find : At what price must he sell the remaining land so as to make an overall profit of 10%?

Solution :

Let the cost of agriculture land be 'x'.

A man buys a plot of agricultural land for Rs 300000.

Cost price of x=Rs.300000.

Cost price of $\frac{1}{3}x$ is $\frac{1}{3}\times 300000=100000$

He sells one third at a loss of 20%.

Selling price is given by,

$SP=CP(1-\frac{L\%}{100} )$

$SP=100000(1-\frac{20}{100})$

$SP=100000(1-0.2)$

$SP=100000\times 0.8$

$SP=80000$

Cost price of $\frac{2}{5}x$ is $\frac{2}{5}\times 300000=120000$

He sells two fifths at a gain of 25%.

Selling price is given by,

$SP=CP(1+\frac{P\%}{100} )$

$SP=120000(1+\frac{25}{100})$

$SP=120000(1+0.25)$

$SP=120000\times 1.25$

$SP=150000$

Remaining land - $x-\frac{1}{3}x-\frac{2}{5}x=\frac{4x}{15}$

Cost price of $\frac{4}{5}x$ is $\frac{4}{15}\times 300000=80000$

He sell the remaining land so as to make an overall profit of 10%.

Selling price is given by,

$SP=CP(1+\frac{P\%}{100} )$

$SP=80000(1+\frac{10}{100})$

$SP=80000(1+0.1)$

$SP=80000\times 1.1$

$SP=88000$

Therefore, The selling price of the remaining land is 88000.

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