. A business-woman sold a gas cooker for $1209.60 making a profit of 12% on the cost price. Calculate the cost price of the gas
cooker.
1 answer:
Answer:
$1080
Data given:
selling price (SP): $1209.60
percentage profit: 12%
To calculate out percentage profit
profit% = gain/cost price × 100
gain = selling price - cost price
hence we have:
(1209.60 - cost price)/cost price ×100 = 12
when we cross multiply
we have 12costprice = (1209.60×100)-(100×cost price)
12CP=120960-100CP
collect like terms
12CP+100CP = 120960
112CP=120960
divide both sides by the coefficient of CP
CP = $1080
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