Question

Please help me, the booklet says that the answer is $620, but I need working out

Answer 1

Given details :

• The selling price of a chandelier is $899
• The profit gained js 45%

To find :

• The cost price / Wholesale price

Solution :

We know that CP is ,

• $\sf\implies\:CP\:=\:\dfrac{100}{100\:+\:P\%}\:\times\:SP$

Put the values in the formula ,

• $\sf\implies\:CP\:=\:\dfrac{100}{100\:+\:45\%}\:\times\:899$

• $\sf\implies\:CP\:=\:\dfrac{100}{145}\:\times\:899$

• Simplify 899 with 145 that gives us 6.2

• $\sf\implies\::\:CP\:=\:100\:\times\:6.2$

• CP = $620