Profit/Loss Problem

[bburton11]

Ad used car dealer sold one car at a profit of 25 percent of the dealer’s price for that car and sold another car at a loss of 20 percent of the dealers purchase price for that car. If the dealer sold each car for $20,000, was the dealer’s total profit or loss in dollars for the two transitions combined?

$1,000 loss

I got this problem correct however it was more luck.

[tohellandback]

car sold at 25% profit
selling price 20,000$
dealer's price must be 16000$
car2 sold at 20 %loss
dealer's price must be 25000 $

total dealer's price=41000$
selling price=40000$

loss =1000$

[ssmiles08]

Profit:(125/100)*(x) = 20,000

x = 20,000*(4/5) = 16,000 (original value of Car 1)

Loss: (80/100)*(x) = 20,000

x = 20,000(5/4) = 25,000 (original value of Car 2)

Profit was 4000 for car 1
Loss was 5000 for car 2

total was a loss of 1000 both both cars sold.