Question

A music shop sold 25 50$ radios at a profit of 8% and 6 30$ radios at a loss of 15% how much was the profit or loss combined

Answer 1

The profit or loss combined is $2.99

Explanation:

Given;

cost price of first radio, CP = $25.50

profit percent, = 8%

The profit made is calculated as;

`(Profit)/(CP) * 100\% = (SP-CP)/(CP) * 100\% = 8\%\\\\Profit = SP-CP = 0.08CP = 0.08* \$25.50 = \$ 2.04`

Cost price of the second radio, CP = $6.30

loss percent = 15%

The loss incurred is calculated as;

`(Loss)/(CP) * 100\% = 15\%\\\\Loss = 0.15CP\\\\Loss = 0.15 * \$6.30 = \$0.95`

The profit or loss combined = $2.04 + $0.95

= $2.99