Problema Solution
Bob Brown bought two plots of land for a total of $110,000. On the first plot, he made a profit of 16%. On the second, he lost 4%. His total profit was $9600. How much did he pay for each piece of land?
Answer provided by our tutors
let
x = the cost of the first plot
y = the cost of the second plot
Bob Brown bought two plots of land for a total of $110,000
x + y = 110000
On the first plot, he made a profit of 16%. On the second, he lost 4%. His total profit was $9600.
0.16*x - 0.04y = 9600
by solving the system of equations
x + y = 110000
0.16*x - 0.04y = 9600
we find
x = $70,000
y = $40,000
click here to see the step by step solution of the system of equations
Bob paid $70,000 for the first plot and $40,000 for the second plot.