Question 1055893

A trader sells two T-shirts at $48 each. She gains 25% on the cost price for one T-shirt and loses 20% on the cost price for the other T-shirt. Express her net profit or loss as a percentage of the total cost price of the two T-shirts. ...... 
(My answer is 2.5% profit, but the answer key has different result)
<pre>Let cost price of T-shirt she made a 25% profit on, be P
This means that she sold it for 25% MORE than the cost price, or for 1.25P
We then get: {{{1.25P = 48}}}
P, or cost price of T-shirt she made a 25% profit on = {{{matrix(1,3, 48/1.25, or, "$38.40")}}}
Therefore, profit = $48 - $38.40 = $9.60

Let cost price of T-shirt she made a 20% loss on, be L
This means that she sold it for 20% LESS than the cost price, or for .8L
We then get: {{{.8L = 48}}}
L, or cost price of T-shirt she made a 20% LOSS on = {{{matrix(1,3, 48/.8, or, "$60")}}}
Therefore, loss = $60 - $48 = $12

Since the loss ($12) is greater than the profit ($9.60), she incurred a NET LOSS.

Net loss $2.40 ($12 - 9.60) as a percentage of total cost: $98.40 ($38.40 + 60) = {{{highlight_green(matrix(1,6, 2.4/98.4, "=", 0.024390244, or, approximately, highlight("2.44%")))}}}