SOLUTION: Mika bought a lamp at 90% of its book value. A week later she sold the lamp to her neighbor for over 25% of its book value and made a profit of $105 dollars.
What is the book v
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Question 772463: Mika bought a lamp at 90% of its book value. A week later she sold the lamp to her neighbor for over 25% of its book value and made a profit of $105 dollars.
What is the book value of the lamp.
How much did her neighbor pay?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = the book value
She bought the lamp for
She sold the lamp for
-------------------
The profit is:
( selling price ) - ( purchase price )
--------------
The neighbor paid
$375
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