SOLUTION: Mr. Lin buys an article and sells it to Mr. Chen at a gain of 25 % on cost. Mr. Chen sells the article to Mr. Ang at a gain of 20 % on cost. How much money did Mr. Lin pay for the

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: Mr. Lin buys an article and sells it to Mr. Chen at a gain of 25 % on cost. Mr. Chen sells the article to Mr. Ang at a gain of 20 % on cost. How much money did Mr. Lin pay for the       Log On


   

Question 433368: Mr. Lin buys an article and sells it to Mr. Chen at a gain of 25 % on cost. Mr. Chen sells the article to Mr. Ang at a gain of 20 % on cost. How much money did Mr. Lin pay for the article, if Mr. Ang pays $ 360 for it?
Answer by jorel1380(3719) About Me  (Show Source):
You can put this solution on YOUR website!
Mr. Ang paid $360 for the article. If Mr. Chen made a 20% profit, then it cost him
360/1.20, or $300. Likewise, Mr. Lin made 25% profit so it cost him 300/1.25 or $240. Mr. Lin paid $240 originally for the article. You can also find this by 360/(1.20x1.25).