Question

Glenn the owner of a hardware store originally paid $54.60 for 15 tool sets. at his year-end clearance sale he sold the last tool set for$24.00 how much money did he lose on the last tool set

Answer 1

The amount of money that Glenn lost on last tool set is $30.60.

Given sale value of 15 tool set 1 year before is $54.60 and the sale value of last tool at year end is $24.00 by Glenn.

Sale value is the price which we get by selling the good including the profit and cost of the product.

In this question it is given that 15 tools sets, it does not mean that 15 sets are sold.

Using the formula

Amount lose=Original amount paid- selling price.

Now put the values in the formula:

Amount lose=$54.60-$24.00

Amount lose=$30.60.

Hence the amount of money he lost on the last tool set is $30.60.

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