SOLUTION: Find the buying price of an article which is sold for sh.108500 at a profit of 7% Please help me...i have to know it now!!!!!

Question 233406: Find the buying price of an article which is sold for sh.108500 at a profit of 7%

Please help me...i have to know it now!!!!!
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Find the buying price of an article which is sold for sh.108500 at a profit of 7%
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Let the buying price be "x".
Equation:
buying price + 7%*buying price = selling price.
x + 0.07x = 108500
x(1 + 0.07) = 108500
1.07x = 108500
x = 108500/1.07
x = 101401.87
The buying price is sh.101401.87
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Cheers,
Stan H.
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