SOLUTION: Tim bought a tennis racket for $320 and a sports bag for $200. Then he sold the racket at a profit of 20% and the bag at a loss of 5%. Find the overall profit or loss.

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: Tim bought a tennis racket for $320 and a sports bag for $200. Then he sold the racket at a profit of 20% and the bag at a loss of 5%. Find the overall profit or loss.      Log On


   

Question 1174180: Tim bought a tennis racket for $320 and a sports bag for $200. Then he sold the racket at a profit of 20% and the bag at a loss of 5%. Find the overall profit or loss.
Answer by ikleyn(52921) About Me  (Show Source):
You can put this solution on YOUR website!
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His revenue is  1.2*320 + 0.95*200 = 574 dollars.


It is  574 - (320+200) = 54 dollars more than his spending.


Hence, he has a profit of 54 dollars.


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