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A used-car dealer sold one car at a profit of 25% of the [#permalink]
12 May 2007, 15:12
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A used-car dealer sold one car at a profit of 25% of the dealer's purchase price for that car and sold another car at a loss of 20% of the dealer's purchase price for that car. If the dealer sold each car for $20,000, what was the dealer's total profit or loss, in dollars, for the two transactions combined?
a. 1000 profit
b. 2000 profit
c. 1000 loss
d. 2000 loss
e. 3334 loss