A business woman bought two bags maize of the same price per bag.she discovered that one bag was of high quality and other of low quality.On the high quality made a profit by selling at sh 1040, whereas on the low quality bag made loss by selling at sh 880.If the profit was three times the loss, calculate the buying price per bag
Let's assume that the buying price per bag is x.
Profit = Selling Price - Buying Price
Loss = Buying Price - Selling Price
According to the given information:
Profit = 3 * Loss
1040 - x = 3(x - 880)
1040 - x = 3x - 2640
4x = 2640 + 1040
4x = 3680
x = 3680/4
x = 920
Therefore, the buying price per bag is sh 920.
Let's assume the buying price per bag is denoted as 'x'.
Given that the businesswoman made a profit of sh 1040 and a loss of sh 880, and the profit was three times the loss, we can set up the following equations:
Profit: x + 1040
Loss: x - 880
We can use this information to solve for 'x'.
According to the given information, the profit was three times the loss. So, we can set up the equation:
x + 1040 = 3 * (x - 880)
Let's solve this equation step-by-step:
1. Distribute 3 to each term inside the parentheses:
x + 1040 = 3x - 2640
2. Combine like terms:
1040 = 3x - x - 2640
3. Simplify:
1040 = 2x - 2640
4. Move the constant term to the other side of the equation:
2x = 1040 + 2640
2x = 3680
5. Divide by 2 to isolate 'x':
x = 3680 / 2
x = 1840
Therefore, the buying price per bag is sh 1840.