SOLUTION: Bob Brown bought two plots of land for a total of $110,000. On the first plot, he made a profit of 16%. On the second, he lost 4%. His total profit was $9600. How much did he pay f

Question 450270: Bob Brown bought two plots of land for a total of $110,000. On the first plot, he made a profit of 16%. On the second, he lost 4%. His total profit was $9600. How much did he pay for each piece of land?
Please help me understand how to set this up. Thank you so much!!
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
x+y=110000
.16x-.04y=9600
------------------
4x+4y=440000
16x-4y=960000
20x=1400000
x=70000
y=40000
The first plot cost $70000.00, and the second cost $40000.00..
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