SOLUTION: A shopkeeper buys 300 identical articles at a total of $1500 he sales 260 articles that a price that is 20% above the cost price. each of the remaining article is sold at a price t
Question 1129280: A shopkeeper buys 300 identical articles at a total of $1500 he sales 260 articles that a price that is 20% above the cost price. each of the remaining article is sold at a price that is 50% of the selling price of each of the two 260 articles. Express the shopkeepers profit as a percentage of his cost price Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! A shopkeeper buys 300 identical articles at a total of $1500.
He sells 260 articles at a price that is 20% above the cost price.
Each of the remaining article is sold at a price that is 50% of the selling price of each of the two 260 articles.
Express the shopkeepers profit as a percentage of his cost price
:
let c = the cost price of each item
:
"He sells 260 articles at a price that is 20% above the cost price."
1.2c = the price of the 260 items he sold
"
"Each of the remaining article is sold at a price that is 50% of the selling price of each of the two 260 articles."
remaining: 300 - 260 = 40 items
.5(1.2c) = .6c is selling price of these items
:
"Express the shopkeeper's profit as a percentage of his cost price. "
Find the original cost of each item
1500/300 = $5 each
Find the price of the first 260 item
1.2(5) = $6
Find the price of the remaining 40
.5(6) = $3
Find the total revenue
6(260) = $1560
3(40) = $120
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total rev $1680
Find the profit
1680 - 1500 = $180 profit
Find the percent based on cost * 100 = 12% profit
