Question

. 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.

Answer 1

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