Lizzy: The ratio of the amount of money Cara, Janet, and Jerry have is 4:5:6. If the total amount of money they have is $75, calculate the loss Cara and Janet will make if they combine their money to buy oranges and sell them at 80% of the buying price..
Me: Hmmm, let me think. I think this is the detailed solution:
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The sum of the ratios representing the amount of money the three has is 4 + 5 + 6 = 15. If the total amount of money they have is $75, the amount of money Cara has represented by the fraction 4 / 15 is 4 / 15 * $75 = $20. Similarly, the amount of money Janet has represented by the fraction 5 / 15 of the total ratio is 5 / 15 * $75 = $25. Combined, Cara and Janet have $20 + 25 = $45. If Cara and Janet buy goods worth $45 and sells them at 80% of the buying price, the selling price of the goods will be 80 / 100 * $45 = $36. Since they bought the goods at $45 and sold them at $36, Janet and Cara would run at a loss of $45 - $36 = $9. Final answer: 9.
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