Question

John bought a car for $20 000. He sold it for 30% profit. From the money raised from this slae, he bought another more expensive car, which unfortunately he had to sell for a 30 percent loss. What was his overall profit or loss?

Answer 1

His overall loss was $1,800

20,000x30%=6,000
6,000+20,000=26,000

26,000x30%=7,800
26,000-7,800=18,200

20,000 (the amount of money he started with) - 18,200 (the amount of money he ended up with) = 1,800

Answer 2

The overall loss was $1800