Question

Ms. Katz paid $50 for a used bicycle and then sold it to her neighbor for $60. She decided to buy it back, but she had to pay $70 for it. If she then sold it again for $80, how much money did she make or lose overall? Show your solution in enough detail so a teammate could easily understand how you found your answer.

Answer 1

-50 + 60
= 10
10 - 70
= -60
-60 + 80
20
so he made a profit of $20

Answer 2

$20.00

Explanation:

Cost price of the bicycle paid by Mr. Katz = $50

Selling price of the bicycle = $6

Money earned by Ms. Katz = 60 - 50

= $10

She purchased it again at the price = $70

and sold it again at the price = $80

Money earned by her = selling price - cost price

= 80 - 70

= $10

She earned the profit = (10+10) = $20