SOLUTION: A man bought two different television sets, but later decided to sell them. He sold them each for $600, making a 20% profit on one and a 20% loss on the other. What was the percent

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Question 165044: A man bought two different television sets, but later decided to sell them. He sold them each for $600, making a 20% profit on one and a 20% loss on the other. What was the percent profit or loss on the entire transaction?
Please help!! I am really lost because my teacher told us it was not the obvious answer. Help!!!!
Found 2 solutions by Mathtut, gonzo:
Answer by Mathtut(3670) About Me  (Show Source):
You can put this solution on YOUR website!
x+.2x=600 and y-.2y=600 where x and y are the orignal price paid for each TV. So solving for x an y the orginal purchase prices were $500 and $750. Now since the total cost paid was $1250 and the total selling price was $1200 then there was a $50 loss 50/1250 =.04*100 =4% loss

Answer by gonzo(654) About Me  (Show Source):
You can put this solution on YOUR website!
selling price of both tv's is $600.
first tv was a profit of 20%.
second tv was a loss of 20%.
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profit or loss is taken from the cost.
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profit equation is first.
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let c = cost
c + .2*c = 600 (cost plus profit = selling price)
c(1+.2) = 600
c = 600/(1.2)
c = 500
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first tv cost 500 and was sold for 600. that's 100 dollar profit. 600 selling price minus 500 cost = 100 profit / 500 cost = 20% profit.
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loss equation is next.
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let c = cost
c - .2*c = 600 (cost minus loss = selling price)
c(1-.2) = 600
c = 600/.8
c = 750
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second tv cost 750 and was sold for 600. that's 150 loss. 600 selling price plus 150 loss = 750 cost. 150 loss / 750 cost = 20% loss.
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he made 100 dollars profit on first tv.
he lost 150 dollars on second tv.
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total transaction is calculated as follows:
first tv cost 500 and was sold for 600.
second tv cost 750 and was sold for 600.
total cost = 500 + 750 = 1250
total selling price = 600 + 600 = 1200
total loss was 50 dollars.
total percent loss is calculated over total cost.
50 / 1250 = .04 = 4%.
he lost 4% on the total transaction.
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