Sure, let's break down the details of the problem step-by-step.
Step 1: Understanding the problem statement
- The businessman buys two horses.
- He gains 10% on the first horse and loses 10% on the second horse.
- We need to find the overall percentage of gain or loss on the entire deal.
Step 2: Assume the cost price for each horse
To simplify calculations, let's assume the cost price of each horse is [tex]$100. Thus:
- Cost price of the first horse (CP₁) = $[/tex]100
- Cost price of the second horse (CP₂) = [tex]$100
Step 3: Calculate the selling price of the first horse
Since the businessman gains 10% on the first horse:
- Selling price of the first horse (SP₁) = CP₁ + 10% of CP₁
- SP₁ = 100 + (10/100) × 100
- SP₁ = 100 + 10
- SP₁ = $[/tex]110
Step 4: Calculate the selling price of the second horse
Since the businessman loses 10% on the second horse:
- Selling price of the second horse (SP₂) = CP₂ - 10% of CP₂
- SP₂ = 100 - (10/100) × 100
- SP₂ = 100 - 10
- SP₂ = [tex]$90
Step 5: Calculate the total cost price and the total selling price
- Total cost price (TCP) = CP₁ + CP₂
- TCP = 100 + 100
- TCP = $[/tex]200
- Total selling price (TSP) = SP₁ + SP₂
- TSP = 110 + 90
- TSP = [tex]$200
Step 6: Determine the overall gain or loss
In this case, since the total cost price (TCP) is equal to the total selling price (TSP):
- Overall gain or loss = TSP - TCP
- Overall gain or loss = 200 - 200
- Overall gain or loss = $[/tex]0
Step 7: Calculate the percentage of overall gain or loss
Since there is no overall gain or loss, the percentage of overall gain or loss is:
- Gain or loss percentage = (Overall gain or loss / TCP) × 100
- Gain or loss percentage = (0 / 200) × 100
- Gain or loss percentage = 0%
So, the businessman does not have any overall gain or loss in this deal.
Therefore, the overall pecentage of gain or loss in the entire deal is 0%.
