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This one is a little confusing when you first read it, but once you do it, it's pretty simple :)

~Problem~

Lamps: You bought two antique lamps for $50 each. Later, you were offered $60 for one and sold it, changed your mind when you saw a duplicate being sold for more, and bought it back for $70. You then sold it for $80. The first one didn't sell at all so you reduced it 10% below what you originally paid and managed to get rid of it. Did you make or lose money on the deal, and how much?

~Answer~

Work:

-50 + -50 = -$100 dollars

-100 + 60 = -$40 dollars

-40 + -70 = -$110 dollars

-110 +80 = -$30 dollars

50 X 0.10 = $5 dollars

50 - 5 = $45 dollars

-30 + 45 =15 dollars

Explanation:

You make $15 dollars on the deal. To solve this problem, I followed the steps as they were listed in the problem. When you buy the 2 lamps you lose $100, so you are at -$100. Then, when you sell one of the lamps, you earn $60 dollars, which then brings you back up to -$40 dollars. Next, when you buy another duplicate lamp for $70 dollars, you go back down to -$110. Then, if you sell the duplicate lamp for $80 dollars, your back up to -$30 dollars. Lastly, if you sell the first lampl with a 10% discount, you make $45 dollars and finish with a total final balance of $15 dollars.

Hope this helped :)

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13y ago

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