Question 1174403: Question 1109914: 1. The Cellphone Company buys iPhones at PhP24,000. Expenses are set at 17% of the selling price and the required profit is set at 20% of the selling price. During a weekend sale, the iPhone is sold at 10% discount.
A. What is the regular selling price of the iPhone?
B. What is the sale price of the iPhone?
C. How much did The Cellphone Company gain or lose when the iPhone was sold during the weekend sale?
2. Appliance Store realizes a mark-up of PhP3,450 in selling TV sets. If its items are sold at a mark-up of 40% of the selling price,
Answer by CPhill(1959)   (Show Source):
You can put this solution on YOUR website! **1. The Cellphone Company**
**A. Regular Selling Price**
* Let `x` be the regular selling price.
* Expenses = 0.17x
* Profit = 0.20x
* Cost = PhP24,000
We can set up an equation to represent the selling price:
Cost + Expenses + Profit = Selling Price
24000 + 0.17x + 0.20x = x
24000 = x - 0.17x - 0.20x
24000 = 0.63x
x = 24000 / 0.63
x ≈ PhP38,095.24
**Therefore, the regular selling price of the iPhone is PhP38,095.24.**
**B. Sale Price**
* Discount = 10% of PhP38,095.24 = PhP3,809.52
* Sale Price = PhP38,095.24 - PhP3,809.52 = PhP34,285.72
**Therefore, the sale price of the iPhone is PhP34,285.72.**
**C. Gain or Loss during Weekend Sale**
* Sale Price = PhP34,285.72
* Cost = PhP24,000
* Expenses = 0.17 * PhP34,285.72 = PhP5,828.57
Profit/Loss = Sale Price - Cost - Expenses
= PhP34,285.72 - PhP24,000 - PhP5,828.57
= PhP4,457.15
**Therefore, The Cellphone Company gained PhP4,457.15 during the weekend sale.**
**2. Appliance Store**
* Mark-up = PhP3,450
* Mark-up percentage = 40% of selling price
Let `x` be the selling price of the TV set.
Mark-up = Mark-up percentage * Selling Price
PhP3,450 = 0.40x
x = PhP3,450 / 0.40
x = PhP8,625
**Therefore, the selling price of the TV set is PhP8,625.**
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