Answer:
26.67% loss
Step-by-step explanation:
You want to know the profit or loss incurred on the sale of a second car at the same price as a first car, if there was a 10% profit on the first car and a 12% overall loss on the sale of both cars.
For a given cost price (c) and markup multiplier (m), the selling price (s) is ...
s = c·m
This relation will hold for each sale, and for both sales together:
s = c₁·m₁
s = c₂·m₂
(2s) = (c₁ +c₂)·m₃
where ...
We can solve the first two equations for c₁ and c₂, then substitute into the third equation.
[tex]c_1=\dfrac{s}{m_1}=\dfrac{s}{1.10}\\\\\\c_2=\dfrac{s}{m_2}\\\\\\2s=\left(\dfrac{s}{1.10}+\dfrac{s}{m_2}\right)0.88\\\\\\\dfrac{2(1.10)(m_2)}{0.88}=m_2+1.10\\\\\\1.5m_2=1.1\\\\\\m_2=\dfrac{11}{15}=1-\dfrac{4}{15}\approx1-26.67\%[/tex]
The loss on the other car was about 26.67%.