Question

I need help with these questions.

Answer 1

Answer:

Question 1

Given

• SP = 144
• P = 20%
• CP = x

Use formula and solve for x:

• SP = CP + P
• 144 = x + (20% of x)
• 144 = x + 0.2x
• 144 = 1.2x
• x = 144/1.2
• x = 120

Cost price is N 120

Question 2

Given

• SP = 1000
• P = -20% (negative because of loss)
• CP = x

Use formula and solve for x:

• SP = CP + P
• 10000 = x - (20% of x)
• 10000 = x - 0.2x
• 10000 = 0.8x
• x = 10000/0.8
• x = 12500

Cost is N 12500