# Thread: Profit and Loss

1. Good post? |

## Profit and Loss

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

2. Good post? |
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

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