Your petty cash has a balance of $73.28. Your Center Manager provides you with two receipts totalling $52.29. How much cash rema
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Answer:
The correct option is c) a loss of $8.
Step-by-step explanation:
Consider the provided information.
If the selling price of two item is same and one item sold at a profit of x % and other at a loss of x % in that case total sale result loss:
To calculate the loss use the formula:
It is given that he had a profit of 20 percent on the sale of one of the shares but a loss of 20 percent on the sale of the other share, where the selling price is $96 each.
That means the total sale result will be a loss.
Now use the above formula by substitute x=20.
It is given that the sales price is $96 of each that means total sales price is:
$96+$96=$192
Let the cost price of the shares were x.
According to question: x-4% of x = 192
Hence, the cost price of the shares was 200.
Loss = Cost price -Sales price
Loss = $200 - $192
Loss = $8
Hence, the correct option is c) a loss of $8.