The cost price of a plot of land was $20,000. The plot of land was sold for $24,000. Calculate the profit as a percentage of the
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There are 3 ways of solving a simultaneous problem, substitution method, elimination method and Gauss-Jordan method. I'm gonna use the substitution method since it's easier and i think it would suit your level more.
First let's try solving for y since it's easier to start with.
Firstly we have to find an equation for x:
Great, now we can use the substitution method to find the value of y using the first equation:
Now we know that y=1 we can solve the first equation we made:
And the answer is
Double check:
And that's our final answer! (4,1)