SOLUTION: By selling two tables for 1200/- each, a man gains 10% on one and losses 10% on another. find his gain or loss percentage in the whole transaction

Question 1206266: By selling two tables for 1200/- each, a man gains 10% on one and losses 10% on another. find his gain or loss percentage in the whole transaction
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
he gained 10% on one of them.
x + .10 * x = 1200
combine like terms to 1.10 * x = 1200
solve for x to get x = 1200 / 1.10 = 1090.909091
he lost 10% on the other of them.
x - .10 * x = 1200
combine like terms to get .9 * x = 1200
solve for x to get x = 1200 / .9 = 1333.333333

x represents the cost.
total revenue is 2400
total cost is 2424.242424

revenue / cost = 2400 / 2424.242424 = .99

greater than 1 he made a profit.
less than 1 he took a loss.

1 - .99 = .01 = 1% loss.

he took a loss of 1%.

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