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Holly paid $47 for a vase at an estate auction. She resold it to an antiques dealer for...

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smith1767 | Student, Undergraduate | (Level 3) eNoter

Posted February 2, 2013 at 10:06 PM via web

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Holly paid $47 for a vase at an estate auction. She resold it to an antiques dealer for $214. What was her profit for $214. What was her profit or loss?

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embizze | High School Teacher | (Level 1) Educator Emeritus

Posted February 2, 2013 at 10:30 PM (Answer #1)

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The cost of the vase is $47. The selling price is $214.

The amount of profit/loss is the selling price minus the cost.

P=214-47=167. Since 167>0 this is a profit.

Holly made a profit of $167.

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