SOLUTION: A man made a profit of 2900 pesos by selling 8 cows and 14 calves at a gain of 25% of what they cost him. He had sold 14 cows and 8 calves instead at the same percentage of profit,
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Question 1196801: A man made a profit of 2900 pesos by selling 8 cows and 14 calves at a gain of 25% of what they cost him. He had sold 14 cows and 8 calves instead at the same percentage of profit, he would have gained 4000 pesos. Find the original cost of each cow and calf. Answer by Theo(13342) (Show Source):
You can put this solution on YOUR website! let x = the profit of one cow.
let y = the profit of one calf.
your two equations that need to be solved simultaneously are:
8x + 14y = 2900
14x + 8y = 4000
solve this system of equations simultaneously to get:
x = 248.4848484.... = 8200/33 = profit from one cow.
y = 65/151515... = 2150/33 = profit from one calf.
since profit = 25% * cost, then cost = profit / .25
you will get:
cost of one cow = x/.25 = 993.939393..... = 32800/33
cost of one calf = y/.25 = 260.606060.... = 8600/33
that is your solution.
if you multiply the cost by 1.25, you will get the price that needed to be charged to get a profit of 25% over cost.
