Profit and Loss

[rum]

After going through different kind of problems, am little confused to how to solve the problems quickly.

 

can any 1 suggest an easy and quick method for the following problems .. pref same approach.

 

Rich sold his skis for 160$ and his ski boots for 96$. He made a profit of 20% on his boots and took a 10% loss on his skis. What is that he gained in $

Q1. A man purchases 2 watches for Rs. 560. He sells one at 15% profit and the other at 10% loss. He neither gains nor loses. Thus, the cost prices of 2 watches are:

 

5. Mr. Adams sold 2 properties, X and Y, for 30 000 each. She sold property X for 20% more than she paid for it and sold property Y for 20% less than she paid for it. If expenses are disregarded, what was her total net gain or loss, if any, on the 2 properties?

Loss of 1250

Loss of 2500

Gain of 1250

Gain of 2500

No gain, no loss

 

 

If there are two houses of same cost price, one sold for y% profit and another sold for y% loss, what is the total profit/loss ?

 

Ans : Loss of (y/10)^2

[tictaktoe]

Prop X

SP=30,000

CP*1.2 = 30,000 so CP = 25000

 

prop Y

SP= 30,000

CP*.8 = 30,000 so CP = 37500

 

total SP = 60000

total CP= 62500

 

loss = cp-sp = 2500