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Math Help - Profit Loss Problem

  1. #1
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    Question Profit Loss Problem

    How do I do this problem?

    2/3rd of a consignment was sold at a profit of 5% and the remainder at a loss of 2%. If the total profit is $400, what is the value of the consignment?

    Thanks,

    Ron
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  2. #2
    Member arpitagarwal82's Avatar
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    Let value of consignment be x

    so (2x/3) (5/100) - (x/3)(2/100) = 400

    Solve for x.
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  3. #3
    Member arpitagarwal82's Avatar
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    x = 15000.
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  4. #4
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    (2x/3) (5/100) - (x/3)(2/100) = 400

    Thanks buddy but how did you get the above equation? Can you please explain me this?

    Thanks,

    Ron
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  5. #5
    Member arpitagarwal82's Avatar
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    2/3rd of a consignment was sold at a profit of 5% and the remainder at a loss of 2%. If the total profit is $400, what is the value of the consignment?

    2/3rd of a consignment was sold at a profit of 5%
    It means 5/100 into 2x/3 where 5/100 is 5% and 2x/3 is two-third of consignment.

    the remainder at a loss of 2%

    since 2/3 is sold at profit what remains is 1/3.
    so loss is 2/100 into x/3

    Now profit - loss = $400 profit.


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