SOLUTION: a seller makes a profit of 6% by selling an items,which costs Rs 1500. he make a loss of 8% on another item which is sold at rs 1380. what is the net profit or loss?

Algebra ->  Rectangles -> SOLUTION: a seller makes a profit of 6% by selling an items,which costs Rs 1500. he make a loss of 8% on another item which is sold at rs 1380. what is the net profit or loss?      Log On


   

Question 1085190: a seller makes a profit of 6% by selling an items,which costs Rs 1500. he make a loss of 8% on another item which is sold at rs 1380. what is the net profit or loss?
Answer by Theo(13342) About Me  (Show Source):
You can put this solution on YOUR website!
cost + percent profit / 100 * cost = selling price.

when cost is 1500 and percent profit is 6%, this formula becomes:

1500 + .06 * 1500 = selling price.

this becomes 1500 + 90 = 1590.

1590 is the selling price.
90 is the profit.

for the second part of your problem:

cost - percent loss / 100 * cost = selling price.

when selling price is 1380 and percent loss is 8%, this formula becomes:

cost - .08 * cost = 1380

this becomes .92 * cost = 1380.

solve for cost to get cost = 1380 / .92 = 1500

loss is equal to 1380 - 1500 = 120

the profit is 90 and the loss is 120, so the net loss is equal to 30 because 120 - 90 = 30.

looks like both items cost 1500.

the first item is sold at 6% profit for a profit of 90.

the selling price of the first item is 1590.

the second item is sold at 8% loss for a loss of 120.

the selling price of the second item is 1380.