SOLUTION: 1)Shop keeper M sells some goods to N and makes a profit 15% N resells to p at a loss of 5%. If p pays dollar 13.11 how much did M pay for the goods 2) a profit 24% was made whe

Algebra ->  Proportions  -> Lessons -> SOLUTION: 1)Shop keeper M sells some goods to N and makes a profit 15% N resells to p at a loss of 5%. If p pays dollar 13.11 how much did M pay for the goods 2) a profit 24% was made whe      Log On


   

Question 1150850: 1)Shop keeper M sells some goods to N and makes a profit 15% N resells to p at a loss of 5%. If p pays dollar 13.11 how much did M pay for the
goods
2) a profit 24% was made when a book was sold for dollar 34.10, find the selling price that would have given a profit 28%.
Found 2 solutions by MathLover1, MathTherapy:
Answer by MathLover1(20849) About Me  (Show Source):
You can put this solution on YOUR website!
1)
Let,
the CP of the goods is 100x
M+gets profit of 15 %
15 % of CP: %2815%2F100+%29%2A100x+
selling price by+M+:
CP+%2B+profit=100x+%2B+15x=115x

cost price for N is now 115x
N makes 5% loss :
%285%2F100%29115x+=575x%2F100=5.75x

selling price by N=cost_+price+-+loss=115x+-+5.75x=109.25x+

but the selling price is given :
13.11+=+109.25x
x+=+13.11%2F109.25=+0.12+

cost price of the goods :
100x=100+%2A+0.12=12
M+paid 12 for buying the goods

2)
Profit% = %28Profit%2F+Cost_+Price%29%2A100
Profit+=+Selling_+Price+-+Cost_+Price
let the cost price of the book be+x
24% =0.24 of the cost price is 0.24x
so,
x%2B0.24x=34.10
1.24x=34.10
x=34.10%2F1.24
x=27.5
then a profit 28% will be 0.28%2827.5%29=7.7 and the selling price will be 27.5%2B7.7=35.2



Answer by MathTherapy(10551) About Me  (Show Source):
You can put this solution on YOUR website!
1)Shop keeper M sells some goods to N and makes a profit 15% N resells to p at a loss of 5%. If p pays dollar 13.11 how much did M pay for the
goods
2) a profit 24% was made when a book was sold for dollar 34.10, find the selling price that would have given a profit 28%.
1)

Let cost to M be C

After M sells the goods to N at a 15% profit, N paid (1 + .15)C = 1.15C

After N sells the goods to P at a 5% loss, P paid (1 - .05)1.15C = .95(1.15C) = 1.0925C 

Since P paid $13.11, then we can say that: 1.0925C = 13.11

Cost to M, or 



2)

After being sold at a 24% gain, for $34.10, a selling price (P) would yield a 28% profit by using the following PROPORTION: 

1.24P = 1.28(34.1) ------- Cross-multiplying

Selling price in order to realize a 28% profit, or