Purchasing2018-12-07T18:20:17+10:00

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  • AdminAdmin

    Keymaster
    Post count: 587

    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% 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  

  • AdminAdmin

    Keymaster
    Post count: 587

    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

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