SOLUTION: Charly bought a book for GH¢300 and sold it to Koffi at a profit of x%. Koffi then sold the same book to Asamoah at a profit of x%.If Asamoah paid GH¢(6x+0.75) more for the book th

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Charly bought a book for GH¢300 and sold it to Koffi at a profit of x%. Koffi then sold the same book to Asamoah at a profit of x%.If Asamoah paid GH¢(6x+0.75) more for the book th      Log On

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Question 1121305: Charly bought a book for GH¢300 and sold it to Koffi at a profit of x%. Koffi then sold the same book to Asamoah at a profit of x%.If Asamoah paid GH¢(6x+0.75) more for the book than what Charly paid, find the value of x.

Answer by greenestamps(13200) About Me  (Show Source):
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Charly's cost: 300

Koffi's cost: 300%281%2Bx%2F100%29

Asamoah's cost: 300%281%2Bx%2F100%29%5E2+=+300%281%2B2x%2F100%2Bx%5E2%2F10000%29+=+300%2B6x%2B3x%5E2%2F100

The problem tells us Asamoah's cost was 6x+0.75 more than Charly's:

300%2B6x%2B3x%5E2%2F100+=+300%2B6x%2B0.75
3x%5E2%2F100+=+0.75
3x%5E2+=+75
x%5E2+=+25
x+=+5

The profit percentage on each sale was 5%.

Check:
300(1.05) = 315
315(1.05) = 330.75
300+6(5)+0.75 = 330.75