SOLUTION: A realtor bought a group of lots for $90,000. He then sells them at a gain of $3,750 per lot and has a total profit equal to the amount he received for the last 4 lots sold. How ma
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Question 1184423: A realtor bought a group of lots for $90,000. He then sells them at a gain of $3,750 per lot and has a total profit equal to the amount he received for the last 4 lots sold. How many lots were originally in the group? Answer by ikleyn(52884) (Show Source):
You can put this solution on YOUR website! .
A realtor bought a group of lots for $90,000. He then sells them at a gain of $3,750 per lot
and has a total profit equal to the amount he received for the last 4 lots sold.
How many lots were originally in the group?
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Let "n" be the number of lots, now unknown.
Then the bought price for each lot was ; the profit of selling all these lots was 3,750n dollars.
Write the equation for the profit as you read the problem
3750n = .
Divide both sides by 3750
n = .
Multiply both sides by n
n^2 = 96 + 4n
Simplfy
n^2 - 4n - 96 = 0
Factor left side
(n-12)*(n+8) = 0.
Of the two roots, n= 12 and n= -8, only positive root n= 12 gives a meaningful solution.
ANSWER. 12 lots.
