I bought a cow for …

Mathematics Questions

I bought a cow for $800 and sold it for $1000. Then I bought it again for $1100 and sold it for $1300. How much did I earn?

Short Answer

The total earnings from the cow transactions were calculated as follows: a profit of $200 from the first sale, a loss of $100 from repurchasing the cow, and a profit of $200 from the second sale, resulting in total earnings of $300.

Step-by-Step Solution

Step 1: Calculate the Profit from the First Sale

To determine earnings, start by calculating the profit from the initial sale of the cow. When you sold the cow for $1000, you had initially bought it for $800. The profit here is calculated as:

  • Profit = Selling Price – Cost Price
  • Profit = $1000 – $800 = $200

Step 2: Assess the Loss from the Second Purchase

Next, analyze the loss incurred when you repurchased the cow. You bought it again for $1100 after selling it. The loss is computed by comparing the purchase price to the selling price from the previous transaction:

  • Loss = New Purchase Price – Previous Selling Price
  • Loss = $1100 – $1000 = $100

Step 3: Calculate the Profit from the Final Sale

Finally, calculate the profit made from selling the cow a second time for $1300. By comparing this to the last purchase price, you can find the new profit:

  • Profit = Selling Price – Cost Price for Last Purchase
  • Profit = $1300 – $1100 = $200

Adding these results together gives the total earnings: $200 (first sale) – $100 (loss) + $200 (second sale) = $300.

Related Concepts

Profit

The financial gain calculated as the difference between the selling price and the cost price of an item.

Loss

The financial disadvantage calculated as the difference between the new purchase price and the previous selling price, indicating a decrease in value.

Total earnings

The overall financial result from multiple transactions, calculated by summing profits and losses from sales and purchases.

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