Maths Made Easy › Forums › Standard › Finance › Budgeting & Household Expenses › Purchasing
Tagged: Discounts, Profit, Purchasing

Author
Posts

A squash racquet is sold for a profit of 40% on the cost price. If the selling price is $42, find the cost price. 100% + 40% = 140% If the profit is 40%, that means it went up from the original 100% by 40% to 140% 140%x = 42 since the selling price is $42, this means that 140% is $42 if we let the cost price be x then 140% of x = 42 140%x140%=42140%140%x140%=42140% to solve this equation we need to divide both sides by 140% x = 42 ÷ 140% = 30
do not forget to include the % sign when dividing, or alternatively divide by 1.4, which is equal to 140% cost price = $30 
When an antique is sold for $1650, a profit of 30% is made. For what price was the antique originally purchased.
that price of 1650 is INCLUDING the profit, which means it is 130% so to find the original, we must do the money ÷ the percent 1650 ÷ 130% = $1269.23

Author
Posts
You must be logged in to reply to this topic.