Math CentralQuandaries & Queries


Question from daviann, a student:

calculate the cost price,given
selling price=$304
percentage profit=15%
what is the answer?


It depends on what you mean by 15% profit.

If the profit is 15% of the selling price then the profit is 0.15 × $304 and you would subtract this amount from $304 to find the cost.

If the profit is 15% of the cost then the merchant would take the cost, $C, find 15% of the cost and add it to the cost to find the selling price. That is 0.15 × $C + $C = $304, or 1.15 × $C = $304. Solve for $C.


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