SOLUTION: As an investment Ms. Astoy purchased 2 paintings. She later sold the 2 paintings for $24,000 each. On one painting she made a 20% profit, but on the other she experienced a 20% los
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Question 159891: As an investment Ms. Astoy purchased 2 paintings. She later sold the 2 paintings for $24,000 each. On one painting she made a 20% profit, but on the other she experienced a 20% loss. Ms. Astoy los ____ on her investments in the 2 paintings.
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As an investment Ms. Astoy purchased 2 paintings. She later sold the 2 paintings for $24,000 each. On one painting she made a 20% profit, but on the other she experienced a 20% loss. Ms. Astoy lost ____ on her investments in the 2 paintings.
:
Find the value of the two painting before they were sold
1st painting original value = x:
1.2x = 24000
x =
x = 20,000 original value
:
2nd painting original value = y
.8y = 24000
y =
y = 30,000 original value
:
then $50,000 is the original total value of the paintings
:
The total she got for the paintings = 48000
;
Therefore she lost $2000 on her investments.
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