Gray bought two plots of land for a total of 120000 on the first plot she made a profit of 15% on the second plot she made 10% profit her total profit 5500, how much did she pay for each piece of land?
.15x + .10(120000-x) = 5500
. . .
can u please show the full procedure of this math solution even with the rough works? thank you
well, yeah. solve the equation
If $x is invested at 15%, then the rest is invested at 10%. Add up the interest on each part,, getting the total interest.
.15x + .10(120000-x) = 5500
.15x + 12000 - .1x = 5500
.05x = -6500
WAK?!?!? x is negative?
Well, no wonder.
5500 is 4.5% of 120,000. There's no way she could have made between 10 and 15% on her investments and ended up with only 4.5% profit.
There's a typo in the problem, I fear.
thank you so much Steve for your time but i am really sorry cause i did mistake on typing the question there should be 15% profit she made and 10% lost ...(Gray bought two plots of land for a total of 120000 on the first plot she made a profit of 15%. on the second plot she lost 10% .her total profit was 5500, how much did she pay for each piece of land?)...thank you so much and please if possible pls do this one again for me..please ..
To solve this problem, let's assign variables to the unknown values. Let's call the cost of the first plot of land as "x" and the cost of the second plot as "y."
We are given the following information:
1. Gray bought two plots of land for a total of $120,000.
Therefore, the equation representing this information would be: x + y = 120000.
2. Gray made a profit of 15% on the first plot.
This means that Gray's profit on the first plot is 0.15x.
3. Gray made a profit of 10% on the second plot.
This means that Gray's profit on the second plot is 0.10y.
4. The total profit earned by Gray was $5,500.
So, the equation representing this information would be: 0.15x + 0.10y = 5500.
We now have a system of two equations:
x + y = 120000 (Equation 1)
0.15x + 0.10y = 5500 (Equation 2)
To solve this system of equations, we can use the substitution method or the elimination method. Let's use the elimination method:
To eliminate the decimals, we can multiply Equation 2 by 100:
15x + 10y = 550000 (Equation 3)
Now, let's multiply Equation 1 by -10 to create a cancellation of the "y" term when we add Equation 3:
-10x - 10y = -1200000
Adding Equation 3 and the modified Equation 1:
15x + 10y + -10x - 10y = 550000 + (-1200000)
5x = -650000
Divide both sides of the equation by 5:
x = -130000
Now, substitute the value of x in Equation 1 to find the value of y:
-130000 + y = 120000
y = 120000 + 130000
y = 250000
Therefore, Gray paid $130,000 for the first plot of land and $250,000 for the second plot of land.