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A Horse and a carriage cost $5,000 together. By selling the horse at a 10% profit and the carriage at an 80% lost, a total profit of 1% is made. What is the cost of the horse?
A Horse and a carriage cost $5,000 together. By selling the horse at a 10% profit and the carriage at an 80% lost, a total profit of 1% is made. What is the cost of the horse?
1.1(x) + .2 = 5000(.01) + 5000
1.1(x) + .2(5000-x) = 5050 <--- bc, y = 5000-x
1.1x + 1000 -.2x = 5050
.9x = 4050
x = 4500 and therefore y = 500
check: (1.1 x 4500) + (.2 x 500) = 4950 + 100 = 5050
profit of 1% on a 5000 investment = 5050
oops i forgot that lol your right, i didnt follow my own strategy, it shoulda been 5000(1.01). sorry