A company is in the business of buying and selling pens. During the year it purchased 1000 pens that cost $20,000. Of these it sold 400 pens for $10,000. What is the profit/loss on this transaction? Loss of $10,000 Profit of $2,000 Loss of $2,000 Profit of $10,000

A company is in the business of buying and selling pens. During the year it purchased 1000 pens that cost $20,000. Of these it sold 400 pens for $10,000. What is the profit/loss on this transaction? Loss of $10,000 Profit of $2,000 Loss of $2,000 Profit of $10,000

Elementary Algebra

17th Edition

ISBN:9780998625713

Author:Lynn Marecek, MaryAnne Anthony-Smith

Publisher:Lynn Marecek, MaryAnne Anthony-Smith

Chapter3: Math Models

Section3.3: Solve Mixture Applications

Problem 3.63TI: Orlando is mixing nuts and cereal squares to make a party mix. Nuts sell for $7 a pound and cereal...

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Question

A company is in the business of buying and selling pens. During the year it purchased 1000 pens that cost $20,000. Of these it sold 400 pens for $10,000. What is the profit/loss on this transaction?

Loss of $10,000

Profit of $2,000

Loss of $2,000

Profit of $10,000

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