Question 165428: Karen Smith bought two plots of land for a total of $120,000. When she sold the first plot, she made a profit of 15%. When she solde the second, she lost 10%. Her total profit was $5500. How much did she pay for each piece of land?
Answer by ankor@dixie-net.com(22740)   (Show Source):
You can put this solution on YOUR website! two plots of land for a total of $120,000. When she sold the first plot, she made a profit of 15%. When she sold the second, she lost 10%. Her total profit was $5500. How much did she pay for each piece of land?
:
Let x amt paid for the 1st plot
then
(120000-x) = amt paid for the 2nd plot
:
Profit - loss = 5500
.15x - .10(120000-x) = 5500
:
.15x - 12000 + .10x = 5500
:
.15x + .10x = 5500 + 12000
:
.25x = 17500
x = 
x = $70,000 for the 1st plot
:
Find the cost of the 2nd plot
120000 - 70000 = $50,000 for the 2nd plot
:
:
Check solution
.15*70000 = 10,500
.10*50000 = -5,000
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total profit 5,500
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