Question 472776: Bob Brown bought two plots of land for a total of $110,000. On the first plot, he made a profit of 16%. On the second, he lost 4%. His total profit was $9600. How much did he pay for each piece of land?
How do I start this one?
I came up with .16x-.04y=$110,000
.16x-.04y+.04y=$110,000+.04y
.16x=$110,000+.04y
1/.016 .16x=$110,000+.04y/ by 1/.16
Help figure where I went wrong?
Found 2 solutions by stanbon, monika_p:
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Bob Brown bought two plots of land for a total of $110,000.
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On the first plot, he made a profit of 16%. On the second, he lost 4%. His total profit was $9600.
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How much did he pay for each piece of land?
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Using 2 variables you would get:
x + y = 110,000
0.16x - 0.04y = 9600
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Multiply thru 2nd by 100 to get:
x + y = 110,000
16x-4y = 960000
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Multiply thru 1st equation by 4 to get:
4x + 4y = 4*110,000
16x+ 4y = 960000
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Subtract and solve for "x":
12x = 520000
x = $43,333.33 (Price paid for 1st parcel of land)
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solve for "y":
x + y = 110000
43,333.33 + y = 110000
y = $66,666.67 (Price paid for 2nd parcel of land)
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Cheers,
Stan H.
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Answer by monika_p(71) (Show Source):
You can put this solution on YOUR website! x-price of first plot
y-price of second plot
x+y=110,000 from first sentnce
.16x-.04y=9600 from next sentences
now solve as system of 2 equations
x=110,000-y
.16(110,000-y)-.04y=9600
17600-.16y-.04y=9600
-0.2y=-8000
y=40,000
then x=110,000-40,000=70,000
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