Thread: 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

Let value of consignment be x

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

Solve for x.

x = 15000.

(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

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.


Got it?