Buying and selling land. Anoa bought two plots of land for a total of $120,000. When she sold the first plot, she made a profit of 15%. When she sold the second, she losT 10%. Her total profit was $5500. How much did she pay for each piece of land.
A+B=120000
A*1.15+B*.90=120000+5500
can you take it from here?
No I can not can you help please help
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To solve this problem, let's assign variables to the unknowns. Let's say Anoa bought the first plot of land for $x, and the second plot for $y.
According to the given information, Anoa bought two plots of land for a total of $120,000. So we can form the equation: x + y = $120,000.
Now, let's calculate the profit made from selling the land:
Profit from selling the first plot: 15% of x = (15/100) * x = 0.15x
Loss from selling the second plot: 10% of y = (10/100) * y = 0.1y
The total profit was $5500, so we can form another equation: 0.15x - 0.1y = $5500.
We now have a system of two equations with two unknowns:
x + y = $120,000 (Equation 1)
0.15x - 0.1y = $5500 (Equation 2)
To solve this system, we can use the method of substitution or elimination. Let's use substitution.
From Equation 1, we can solve for x: x = $120,000 - y.
Now, we substitute this value of x into Equation 2:
0.15($120,000 - y) - 0.1y = $5500
Simplifying the equation:
$18,000 - 0.15y - 0.1y = $5500
$18,000 - 0.25y = $5500
Moving all terms to one side:
-0.25y = $5500 - $18,000
-0.25y = -$12,500
Dividing both sides by -0.25:
y = -$12,500 / -0.25
y = $50,000
Now that we have the value of y, we can substitute it back into Equation 1 to find x:
x + $50,000 = $120,000
x = $120,000 - $50,000
x = $70,000
Therefore, Anoa paid $70,000 for the first piece of land and $50,000 for the second piece of land.