SOLUTION: Two houses are of equal value. One house was sold for $127000 resulting in a loss of 15%. At what price must the other house be sold for, in order to gain 8% on the sale of both ho

Question 983698: Two houses are of equal value. One house was sold for $127000 resulting in a loss of 15%. At what price must the other house be sold for, in order to gain 8% on the sale of both houses? (Let P be the price of a house).
Thanks if you choose to solve this!
Answer by KMST(5328) (Show Source): You can put this solution on YOUR website!
A loss of 15% means that the first house was sold at 100% - 15% = 85% of its value.

If = value of one house (in $) ,
--->---> (rounded to 3 decimal places).
The value of the two houses would be twice that:
,
To gain 8% on the sale of both houses, the sum of the selling prices must be
100% + 8% = 108% of that amount that is the total value of the two houses.
( )
If = selling price of the second house (in $), that means
.
rounded to 2 decimal places)

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