A horse and a cow were sold for Rs. 12000 each. The horse

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A horse and a cow were sold for Rs. 12000 each. The horse was sold at a loss of 20% and the cow at a gain of 20%. The entire transaction resulted in ?

1. No loss or gain
2. Loss of Rs . 1000
3. Gain of Rs.. 1000
4. Gain of Rs. 2000

Correct Option: B

∵ Loss% = (20/10)² = (2)² = 4%
⇒ Total S.P. = Rs. 24000
⇒ Total C.P. = Rs. (100/96) x 24000 = Rs. 25000
∴ Loss = Rs. 1000