SOLUTION: Mr. Williams, had three television sets which were of the same cost price. He sold one at cost price, one at 20% more than cost price and one at 15% more than cost price. If he rec

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: Mr. Williams, had three television sets which were of the same cost price. He sold one at cost price, one at 20% more than cost price and one at 15% more than cost price. If he rec      Log On


   

Question 698755: Mr. Williams, had three television sets which were of the same cost price. He sold one at cost price, one at 20% more than cost price and one at 15% more than cost price. If he received a total of $670, how much was his profit?
Answer by vidya p(12) About Me  (Show Source):
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Solution:
Let us assume that the cost price of the all three television set is x,
now selling price of each television set is:
1st TV set SP = $x ,
2nd TV set SP = 20% of x + x
= 0.2 x + x
= 1.2x
3rd TV set SP = 15% of x + x
= 0.15x + x
= 1.15x
total amount he recived after selling the television set is: $670
hence we get:
x + 1.20x + 1.15x = 670
3.35x = 670
x = 670/3.35
x = 67000 / 335
x = $200
hence the cost price of the each television is $200.