Question

A sells to b an item at 15% profit. B sells the same item to c at 20% profit. If c pays $1656 for it. What is the price at which a bought the item?

Answer 1

Answer:

The price at which A bought the item is $1200.

Step-by-step explanation:

Suppose, the price at which A bought the item is  $x$ dollar.

A sells the item to B at 15% profit. That means, the selling price to B $= x+(0.15*x)=1.15x$ dollar.

B sells the same item to C at 20% profit. That means, the selling price to C $= 1.15x+(1.15x*0.20)=1.38x$ dollar.

Given that, C pays $1656 for the item. So, the equation will be.......

$1.38x=1656\\ \\ x=\frac{1656}{1.38}=1200$

So, the price at which A bought the item is $1200.