Posted by **Bob ** on Thursday, December 20, 2012 at 3:57am.

As an invesment Mrs. Astor purchased 2 paintings. She later sold the two paintings for $24,000 each. On one painting she made a 20% profit, but on the other she esperienced a 20% loss. Mrs. Astor lost__________ on her investments in the 2 paintings.

- Math -
**Reiny**, Thursday, December 20, 2012 at 9:25am
Purchase price of first :

1.2x = 24000

x = 24000/1.2 = 20,000

purchase price of 2nd:

.8y = 24000

y = 24000/.8 = 30,000

total purchase price = 50,000

total selling price = 48.000

** loss on investment = 50000-48000 = 2,000**

check:

on first:

profit = 4000

percentage profit = 4000/20000 = .2 or 20%

on 2nd:

loss = 6000

percentage loss = 6000/3000 = .2 or 20%

## Answer This Question

## Related Questions

- Math - An artist makes a profit of (500p - p^2) dollars from selling p paintings...
- maths - A shopkeeper bought two tv sets at 10,000 each .he sold one at a profit ...
- math - Two articles are bought at the same price. one is sold at 20% profit and ...
- math - He spent $48 on art supplies. The canvas for each of his paintings is an ...
- Englsih - 1. In later paintings, he painted people doing everyday things. 2. In ...
- math - A man sold two paintings at ₹924 each. On one he gains 20% and on ...
- art - How do landscape paintings convey the values and ideas of Chinese culture...
- Art - How do landscape paintings convey the value and ideas of Chinese culture? ...
- English II - Expand each sentence below by adding words or phrases that modify ...
- math - There are 54 paintings in the National Museum. The ratio of the number of...

More Related Questions