Math problem(profit and loss)!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!?

Question

A man buys a piece of land for 96000$.he sells 2/5th of it at a loss of 6%. At what gain percent should he sell the remaining piece of land to gain 10% at the whole?

(I am student of class vii so please explain it brieflt,THANKS in ADVANCE)

Answer 1

2/5 of $96,000 ought to have fetched $38,400 as a break-even price but lost 6% of that by being sold at a loss = $2,304

The aim is to sell the other parcel of land purchased for $57,600 for sufficient to make up that loss and to put a net total of $105,600 (i.e. $96,000 + $9,600) in the bank.

$36,096 has already been placed there by the first transaction and therefore the cash price wanted is £105,600 - 36,096 = $69, 504.

So the question is "what percentage of $57,600 is $69,504?" and the answer is 120.6666%.

So the selling price has to involve a gain of 20.6667 % of the purchase price of the second parcel of land for the overall gain to be 10%.

Answer 2

Cost of the land = 96000

40% of it is sold at a loss of 6% and so the amount realised will be 96000 X 0.4 X 0.94 = 36096 ( 6% loss means he got only 94% of what he paid for and that can be represented as 0.94).

He needs to sell the balance at a higher price to get a 10% profit on the initial investment. That means he needs to generate 90000 - 36096 + 9600 = 69504 dollars.

69504 dollars is the price to be realised and he paid 57600 dollars for that portion of the land (proportional cost). The increase works out to

69504 - 57600 = 11904 and as a percentage of the original cost, it works out to

11904 X 100 /57600 = 20.666...= 20.667 approx.

Answer 3

2/5th of $96000 = $38400
loss = 6%
sale price=38400 - 38400*6/100
=$36096

To gain 10% as whole the total sale price should be
=$96000+$96000*10/100
=$105600

Therefore, remaining 3/5th would have to be sold at
=$105600-$36096
=$69504.

Cost price of 3/5th = $96000*3/5
=$57600
Profit to be earned=$69504 - $57600
=$11904
Profit % for 3/5th portion = ($11904/$57600)*100
=20.67%

There may be error in calculation that you can redo following the above procedure.

Answer 4

since he has brought the land for $96,000 and sells 2/5th of the land. which is worth 9600*2/5 = $38,400. he should have sold it for this ammount to make it neither profit nor loss. but he sold it for 6% loss

therefore he has sold the land for 38,400-(38400*6/100) =$38400-2304 = $36,096/-

if he needs a total profit of 10% of his investment.
96000*10/100 = 9600

therefore in total he needs 96000+9600 = $1,05,600.
but he has already got $36,096/- by selling 2/5th of his land.

therefore subtract 36,096/-from 1,05,600 = $69,504/-

hence he should sell the rest of his land (3/5th of the land) for $69,504/-

but he has originally bought it for 96000*3/5 = $57,600/-

he makes a profit of 69504-57600 = $11,904
which is (11904/57600)*100 = 20.66%

Answer 5

Ok so he needs 10% gain in the whole. That would be $96,000x110%. That is equal to $105,600.

2/5 of what he sold equals to 40% of $96,000 which equals to $38,400. He sold that at 6% loss so we multiply that by 6%, which equals to $2,304. We subtract that from the $38,400 because it is a loss. We arrive at $36,096.

The remaining piece of land is 60% of the total. It's valued at $96,000 multiplied by 0.6. That yields $57,600.

He needs to sell that 60% of land at the target final cash ($105,600) minus the cash he has ($36,096). So he needs to sell that 60% land at $69,504.

To know how much that $69,504 is as a proportion of its original value we divide it by $57,600.

That gives us the answer: 20.67%.

Answer 6

The actual cost price is irrelevant.
Call it x.

Cost price of 2/5th of land = 2x/5 = 0.4x
Loss: 6%
Selling price of 2/5th of land = 0.4x * (100-6)/100
= 0.4x * 0.94 = 0.376x

Total Profit = 10%
Total selling price of land = 1.1x

Therefore required selling price of remaining land = 1.1x - 0.376x
= 0.724x
Cost price of remaining land = 3x/5 = 0.6x

Profit = 0.724x - 0.6x = 0.124x

Gain % = (0.124x)/(0.6x) * 100%
= 20.67%

Answer 7

RE: maths formula for profit & loss? plz provide me list of maths formula for profit & loss