Question

A music shop sold 25 50$ radios at a profit of 8% and 6 30$ radios at a loss of 15% how much was the profit or loss combined

Answer 1

Answer:

The profit or loss combined is $2.99

Step-by-step explanation:

Given;

cost price of first radio, CP = $25.50

profit percent, = 8%

The profit made is calculated as;

$\frac{Profit}{CP} \times 100\% = \frac{SP-CP}{CP} \times 100\% = 8\%\\\\Profit = SP-CP = 0.08CP = 0.08\times \ 25.50 = \ 2.04$

Cost price of the second radio, CP = $6.30

loss percent = 15%

The loss incurred is calculated as;

$\frac{Loss}{CP} \times 100\% = 15\%\\\\Loss = 0.15CP\\\\Loss = 0.15 \times \ 6.30 = \ 0.95$

The profit or loss combined = $2.04 + $0.95

                                               = $2.99