Question

John bought a car for $20,000. He sold it for a 30% profit. From the money he raised from this sale, he bought another more expensive car, which unfortunately he had to sell for a 30% loss. What was his overall profit or loss?

Answer 1

guess it was a loss, since 30% of a more expensive car is more than 30% of a cheaper one

Answer 2

30% of 20,000 = 6,000

so he bought new car for 26,000
30% of 26,000 = 7,800

26,000-7800 = 18,200

Thus he had a $1800 loss