Alright, let's go through the problem step-by-step and determine the cost incurred by Arif when he buys the plot.
1. Sadiq purchases the plot for Rs 8,000.
2. Sadiq sells the plot to Abid at a profit of 20%.
To find the selling price at a 20% profit:
[tex]\[
\text{Selling Price (Abid)} = \text{Purchase Price (Sadiq)} + 20\% \times \text{Purchase Price (Sadiq)}
\][/tex]
[tex]\[
\text{Selling Price (Abid)} = 8000 + 0.20 \times 8000
\][/tex]
[tex]\[
\text{Selling Price (Abid)} = 8000 + 1600
\][/tex]
[tex]\[
\text{Selling Price (Abid)} = 9600
\][/tex]
So, Abid buys the plot for Rs 9600.
3. Abid then sells the plot to Arif at a loss of 20%.
To find the selling price at a 20% loss:
[tex]\[
\text{Selling Price (Arif)} = \text{Purchase Price (Abid)} - 20\% \times \text{Purchase Price (Abid)}
\][/tex]
[tex]\[
\text{Selling Price (Arif)} = 9600 - 0.20 \times 9600
\][/tex]
[tex]\[
\text{Selling Price (Arif)} = 9600 - 1920
\][/tex]
[tex]\[
\text{Selling Price (Arif)} = 7680
\][/tex]
So, Arif buys the plot for Rs 7680.
Therefore, the cost incurred by Arif for buying the plot is Rs 7680.
