A person sells two shirts for 880 each . he gets a 10% profit on one whereas 20% loss on the other. Find the overall profit or loss percentage I didn't understand how to find the overall profit and loss percentage.
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Calculate the prices he must have paid for each shirt, add those numbers and compare with his total income. – Henrik supports the community May 25 '15 at 13:04
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I have tried that but the answer comes to be 4.5 % loss approx but it has to be from 7.36% loss or 7.36% profit or 5.5% profit or 10% loss – tapadia newlon May 25 '15 at 13:08
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1Then show your work so we can identify the error. – Henrik supports the community May 25 '15 at 13:09
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His income is 1760 whereas he paid 1844 loss of 84 then loss percent comes to be around 4.5 – tapadia newlon May 25 '15 at 13:13
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You have an error in calculating how much he paid. My guess would be that you calculated 10%/20% of $880$ (if so you, made an error in that calculation too, it would give $1848$), but those percentages are relatives to what he bought the shirts for. – Henrik supports the community May 25 '15 at 13:23
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What does that mean calculations with 1848 will also give 4.5 approx – tapadia newlon May 25 '15 at 13:28
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But 1848 would still be with 10%/20% calculated relative to $880$, which as I said is wrong. – Henrik supports the community May 25 '15 at 13:31
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So what would be the right method to solve it – tapadia newlon May 25 '15 at 13:32
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Call the price he paid for the shirt that gives him a 10% profit for $x$, then we have that 110% of $x$ is $880$. Correspondingly call the price of the he sold with a 20% lossfor $y$, then we have that 80% of $y$ is $880$. Written as formulas: $$ 1.1x=880 $$ and $$ 0.8y=880 $$ From that we find that $x=800$ and $y=1100$. So he spend a total of $1900$ and got a total income of 1760, so he has a total loss of $1900-1760=140$ which is $140/1900 \approx 0.0736$ or 7.36%.
