Question

a businesswoman sells a bag for $52.32, thereby making a profit of 9% on the cost of her. calculate the selling price the businesswoman should ask in order to make 20% profit​

Answer 1

Answer: $57.6

Step-by-step explanation:

Given : A businesswoman sells a bag for $52.32.

Let cuurent selling price : SP = $52.32

As they are making 9% profit now.

That means SP= Cp +0.09 CP , where Cp is the cost price of bag.

i..e $52.32=Cp(1+0.09) \ \text{[Substituted value of SP in LHS and taking Cp common outside in RHS]}$

$\Rightarrow\ 52.32=Cp(1.09)\Rightarrow\ CP=\dfrac{52.32}{1.09}=48$

i..e Cost price of bag = 48

Selling price to gain 20% profit = Cp+0.20CP

= CP(1+0.20)

=48 (1.20)

= 57.6

Hence, the  selling price the businesswoman should ask in order to make 20% profit​ = $57.6