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Math Help - Percentage problem

  1. #1
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    Percentage problem

    Arnold sold two houses, each for $265,000. He made a profit of
    30% on one house, and sold the other at a 30% loss. What total
    percent did he lose on the sale of both houses?
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  2. #2
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    Quote Originally Posted by sri340 View Post
    Arnold sold two houses, each for $265,000. He made a profit of




    30% on one house, and sold the other at a 30% loss. What total
    percent did he lose on the sale of both houses?
    Hi sri340,

    I hope I interpret your problem correctly.

    If he received $265,000 on the sale of house (1) which included a 30% profit, then the original cost of the house was:

    265000=H_1+.3x

    H_1=203846.15

    If he received $265000 on the sale of house (2) which included a 30% loss, then the original cost of the house was:

    265000=H_2-.3x

    H_2=378571.43

    So, the original worth of both houses was $582,417.58.

    He sold them both for 2($265,000)= $530,000.

    That's a loss of $52,417.58.

    The % of loss is \frac{52417.58}{582417.58} \approx 9%.
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