Keith bought a pair of jeans at a discounted price of $91.00. The original price of the pair of jeans was $130.00. If Keith got
the same discount on a t-shirt that originally cost $23.00, what is the discounted price of the t-shirt?
2 answers:
So first step would be to find the percent Keith got off for his jeans. To do that subtract 130-91 to get a difference of 39, then multiply 39 by 100 which is 3,900 and then divide by 130 which will give you 30. Which means Keith got 30% off his jeans. So, to find how much his shirt cost if he got 30% off you would multiply the original price, 23 by 0.3 or 30 percent and you get 6.9 then subtract 23-6.9 to get 16.1. So Keith bought his shirt for $16.10.
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In case there is no double entry system is followed, profit can be calculated by comparing the opening and closing capital. In the given situation this can be calculated as:
Opening Capital Rs.200000
Add: Capital Introduced Rs.200000
Add: Profit for the year Rs. 250000
Less: Loss for the year Rs.NIL
Less: Drawings Rs. 30000
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Capital at the end of the year Rs.620000
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Loan taken is a liability and loan given is asset, that will not affect the capital.
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