 |
| ||
| |||
|
| Math Central | Quandaries & Queries |
|
Question from daviann, a student: calculate the cost price,given |
Daviann,
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.
Penny
| ||
| ||
| ||
 |
 |
|
Math Central is supported by the University of Regina and The Pacific Institute for the Mathematical Sciences.