Math Q! PLEASE HELP
Pete Polyester decided to get into the used boat sales business. After buying two boats, he realized he'd spent all his money and had no cash flow. Pete opted for a couple of quick sales. By the end of the day he had sold both boats for $6000 each. On one boat he realized a profit of 20% and on the other boat he lost 20%. Did Pete make money, lose money, or break even?
Please HELP ME WITH THIS Q??
THANKSS|||im pretty sure he broke even because he made $1200 on one and lost $1200 on the other. My math is horrible so double check|||He would stay the same. 3000x.2 + 600 dollar loss. 3000x 1.2+ 600 dollar gain|||Lost. First of all, he spent a whopping $12,000. on 2 boats. Then he lost 20% on one, which is $240. He sold the other for $6,240. But in all, he's out $12,240.|||break even|||One boat cost $7500 when he bought it and sold it for a 20% loss at $6000 with a loss of $1500. The other boat cost $5000 and sold for a 20% profit at $6000 with a profit of $1000. The total for the day was a loss $500..
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