SOLUTION: A trader sells two T-shirts at $48 each. She gains 25% on the cost price for one T-shirt and loses 20% on the cost price for the other T-shirt. Express her net profit or loss as a

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: A trader sells two T-shirts at $48 each. She gains 25% on the cost price for one T-shirt and loses 20% on the cost price for the other T-shirt. Express her net profit or loss as a       Log On


   

Question 1055893: A trader sells two T-shirts at $48 each. She gains 25% on the cost price for one T-shirt and loses 20% on the cost price for the other T-shirt. Express her net profit or loss as a percentage of the total cost price of the two T-shirts. ......
(My answer is 2.5% profit, but the answer key has different result)
Answer by MathTherapy(10552) About Me  (Show Source):
You can put this solution on YOUR website!

A trader sells two T-shirts at $48 each. She gains 25% on the cost price for one T-shirt and loses 20% on the cost price for the other T-shirt. Express her net profit or loss as a percentage of the total cost price of the two T-shirts. ......
(My answer is 2.5% profit, but the answer key has different result)
Let cost price of T-shirt she made a 25% profit on, be P

This means that she sold it for 25% MORE than the cost price, or for 1.25P

We then get: 1.25P+=+48

P, or cost price of T-shirt she made a 25% profit on = matrix%281%2C3%2C+48%2F1.25%2C+or%2C+%22%2438.40%22%29

Therefore, profit = $48 - $38.40 = $9.60



Let cost price of T-shirt she made a 20% loss on, be L

This means that she sold it for 20% LESS than the cost price, or for .8L

We then get: .8L+=+48

L, or cost price of T-shirt she made a 20% LOSS on = matrix%281%2C3%2C+48%2F.8%2C+or%2C+%22%2460%22%29

Therefore, loss = $60 - $48 = $12



Since the loss ($12) is greater than the profit ($9.60), she incurred a NET LOSS.



Net loss $2.40 ($12 - 9.60) as a percentage of total cost: $98.40 ($38.40 + 60) =