Answer:
The correct answer is 13% of profits
Explanation:
A photography dealer ordered 60 Model X cameras, Of the cameras ordered, 6 were never sold and were returned to the manufacturer for a refund of 50 percent of the dealer’s initial cost
60 cameras - 6 cameras = 56 cameras sold.
<u>We need to calculate the Cost of each camera</u>
- $250 each, which represents a 20 percent markup over the dealer’s initial cost for each camera.
That means that the cost is 20% + initial cost that is 100%= 120%
Rule of three
$250 ---------- 120%
? ---------- 100%
=($250 x 100) ÷ 120
= $25,000 ÷ 120
= $208.33 cost of each camera
The dealer pays for the 60 cameras:
=$208.33 x 60
= $12,500 was the total amount that the dealer paid for 60 cameras
- Of the cameras ordered, 6 were never sold and were returned to the manufacturer for a refund of 50 percent of the dealer’s initial cost
= $208.33 x 50% = $104.17 returned <em>for each camara</em>
= $104.17 x 6 camaras returned
= $625.00 total returned
We going to calculate the real amount that the dealer paid after the devolution.
= $12,500 - $625.00
= $11,875 was real amount that the dealer paid for the camaras
The dealer sold for $250 each camera, he sold 54
$250 x 54 cameras = $13,500 sells
Now we going to calculate the utillity or gains
$13,500 sells - $11,875 invest
=$13,500- $11,875
= $1,625 total earns, gains, utility
- What was the dealer’s approximate profit or loss as a <u>percent of the dealer’s initial cost for the 60 cameras</u>?
"$12,500 was the total amount that the dealer paid for 60 cameras"
<u>Rule of three </u>
$12,500 ------------ 100%
$1,625 -------------- ?
=(1,625 x 100) ÷ 12,500
= 162,500 ÷ 12,500
= 13% profit
The dealer’s approximate profit as a percent of the dealer’s initial cost for the 60 cameras is 13%
