Hello tutor please solve this question general accounting Roger bought two plots of land for a total of $120,000. When he sold the first plot,he made a profit of 15%. When he sold the second, he lost 10%. His total profit was$5,500.How much did he pay for each piece of land?

Step 1: Define Profit and LossThe amount at which a material is acquired by a seller is called the…

Answered: Roger bought two plots of land for a…

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter16: Accounting Periods And Methods

Section: Chapter Questions

Problem 13DQ

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Roger bought two plots of land for a total of $120,000. When he sold the first plot, he made a profit of 15%. When he sold the second, he lost 10%. His total profit was $5,500. How much did he pay for each piece of land?