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A used-car sold one car at a profit of 25 percent of the

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A used-car sold one car at a profit of 25 percent of the [#permalink] New post 08 Sep 2006, 10:54
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A used-car sold one car at a profit of 25 percent of the dealer's purchase price for that car and sold another car at a loss of 20 percent 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?

1000 profit
2000 profit
1000 loss
2000 loss
3334 loss
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Schools: Completed at SAID BUSINESS SCHOOL, OXFORD - Class of 2008
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 [#permalink] New post 08 Sep 2006, 11:03
For 1st car
1.25 x = 20000
x = 20000*4/5 = 16000
Profit on 1st car = 4000

For second car
0.8x = 20000
x = 20000*5/4
x = 25000
Loss on 2nd car = 5000

Finally a loss of 1000
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SAID BUSINESS SCHOOL, OXFORD - MBA CLASS OF 2008

  [#permalink] 08 Sep 2006, 11:03
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