​One person sold a horse with a loss of 7%. If he had been able to sell at a profit of 9%, he would have fetched ₹6,400 more than that. So what was the original price of the horse?

Correct option is A

Given:

Loss on sellling the horse = 7%

Money fetched more if selling at profit of 9% = ₹6400

Formula Used:

Profit = SP - CP

Profit Percent = $$\frac{Profit}{CP} \times 100$$​​

Loss = CP -SP

Loss Percent = $$\frac{Loss}{CP} \times 100$$​​

Solution:

Let the CP of horse be x

Then loss = 7% of x = 0.07x

Then selling price = x- 0.07x = 0.93x

If horse had been sold for 9% profit

Then profit = 9% of x = 0.09x

Selling Price = x+ 0.09x = 1.09x

Now the difference of both selling prices is  ₹6400

Then 1.09x - 0.93x = 0.16x = 6400

x=$$\frac{6400}{0.16}$$​= ₹40,000

Alternative Method:

Total money fetched is equal to total percent on CP

Hence 7 + 9 = 16%

Now

16% = 6400

1% = 400

100% = ₹40000