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Foam bought a used AC for Z15,500. He spent Z2,000 on repairing it and then sold it for Z18,000. Did he make a profit or loss? By how much?

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GinnyAnsweridn
Sure, let's solve this step by step.

1. Cost of the Used AC: Foam initially bought the used AC for Z15,500.
2. Repair Cost: Foam spent an additional Z2,000 on repairing the AC.

To find the total cost of the AC, we need to add the initial cost and the repair cost:
[tex]\[ \text{Total Cost} = \text{Cost of the Used AC} + \text{Repair Cost} \][/tex]
[tex]\[ \text{Total Cost} = Z15,500 + Z2,000 \][/tex]
[tex]\[ \text{Total Cost} = Z17,500 \][/tex]

3. Selling Price: Foam sold the AC for Z18,000.

Next, we calculate the profit or loss by subtracting the total cost from the selling price:
[tex]\[ \text{Profit or Loss} = \text{Selling Price} - \text{Total Cost} \][/tex]
[tex]\[ \text{Profit or Loss} = Z18,000 - Z17,500 \][/tex]
[tex]\[ \text{Profit or Loss} = Z500 \][/tex]

Since the result is positive, it means Foam made a profit.

4. Profit Amount: The amount of profit is Z500.

So, Foam made a profit of Z500.
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