Question

An electric blender has a price of $240 after import duty is added to the cost price.What is the cost price of the blender if import duty is 20%?

Answer 1

Answer:

$200

Step-by-step explanation:

Given :

Cost of blender + import duty = $240

Import duty = 20% of cost price

Let :

Cost of blender = x

Import duty = 20% of x = 0.2x

Therefore,

x + 0.2x = $240

1.2x = 240

x = 240 / 1.2

x = $200

Cost of blender = $200