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| Math Central | Quandaries & Queries |
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Question from Anoushka, a student: A man sells two tables of the same price. On one he makes a profit of 10 percent and on the other he suffers a loss of 10 percent.Find his loss or gain percent on the whole transaction. |
This problem is easy if you remember that profit and loss are both
computed on acquisition price. So if I buy a table for $\$50$ and sell it for $\$100$ I have made a 100% profit. (This is not a matter of mathematics, it is a matter of convention. You just have to learn it!)
So figure out what the original price of each table was. Figure out the original total price, and what he got for the sale. Compute overall percentage profit or loss.
Good Hunting!
RD
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