Harold paid $ 16,632 and $ 38,808 for each of the boats.
Since Harold, a marina manager, purchased two boats, and he then sold the boats, the first at a profit of 40% and the second at a profit of 60%, and the total profit on the sale of the two boats was 54 % and $ 88 704 was the total selling price of the two boat, to determine what did Harold originally pay for each of the two boats the following calculation must be performed:
- 55 x 0.6 + 45 x 0.4 = 51
- 65 x 0.6 + 35 x 0.4 = 53
- 70 x 0.6 + 35 x 0.4 = 54
- 88,704 x 0.7 = 62,092.80
- 160 = 62,092.80
- 100 = X
- 100 x 62,092.80 / 160 = X
- 38.808 = X
- 88,704 x 0.3 = 26,611.20
- 140 = 26,611.20
- 100 = X
- 100 x 26,611.20 / 160 = X
- 16,632 = X
Therefore, Harold paid $ 16,632 and $ 38,808 for each of the boats.
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