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Today we are going to come up with new task, that is about ”95. Last year, Matthew bought two cars. This year, he sold both the cars for $45,000… “. We have found the solution to this question, along with interesting information related to it, thanks to its novelty and interest. This will help you to develop a more research-oriented mindset, and make it easier for you to answer these types of questions. This is where we will focus to gain this useful and new knowledge!
Question: “95. Last year, Matthew bought two cars. This year, he sold both the cars for $45,000…”
95. Last year, Matthew bought two cars. This year, he sold both the cars for
$45,000 each. On one, he earned 20% profit, and on the other, he made a
20% loss. What was his net profit or loss?
A. Profit of $7,500
B. Loss of $3,750
C. Profit of $3,750
D. Loss of $7,500
Answer: “95. Last year, Matthew bought two cars. This year, he sold both the cars for $45,000…”
Cost of car on which 20% profit is made = 45000/120% =$37,500
Cost of car on which loss is incurred = 45000/80% =$56,250
Total cost =$93,750
Total sales = 45000*2 =$90,000
Hence, net loss =$3,750
The answer is B. Loss of $3750
Relevant knowledge
All taxpayers equally. All taxpayers are equal in the use of tax collected by governments for public services.
Conclusion
This is how you solve this type of task “95. Last year, Matthew bought two cars. This year, he sold both the cars for $45,000…”. Please leave a message below if you have any questions or comments.
Thanks for reading!!!
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