John bought two horses at Rs 20000 each. He sold one horse at 15% gain. But he had to sell the second horse at a loss. If he had suffered a loss of Rs 1800 on the whole transaction, find the selling price of the second horse. (PLZ answer soon exam approaching)
We are given that CP of each horse = 20000
The first horse is sold with a gain of 15%.
∴SP of first horse = = = 23000
Also, John suffered a net loss of Rs 1800 on selling the 2 horses.
∴SP of both horses = 2(20000) – 1800 = 38200
Thus, SP of the second horse = = 15200.
Therefore, John sold the second horse for Rs 15200.