A shopkeeper marks up a price to make a 30 % profit on the cost but allows 5% discount on cash terms. If he sells the article $247 on cash terms,find his actual profit and expres it as a percentage of the cost price of the article. Maths
2007-07-18 02:16:30 · 7 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics
Selling Price = Cost x (1.30) x (0.95)
to add 30%, multiply by 1.30
to discount by 5%, multiply by 0.95
so, 247 = cost x 1.3 x 0.95
so, cost =247 /1.235
so, cost =$200
Actual profit = $47
% profit on cost = 47/200 x 100
=23.5%
2007-07-18 02:23:25 · answer #1 · answered by Anonymous · 1⤊ 0⤋
The net effect of 30% profit and 5% discount would be:
= 30 - 5 -30*5/100
= 25 - 1.5
=23.5 % profit.
This is the actual profit percentage which the shopkeeper will get over the cost price of the article.
Cash profit is 23.5 % of $247 = $58.045
2007-07-18 02:25:14 · answer #2 · answered by Beurself 2 · 0⤊ 1⤋
Let the cost be X. He sells it at X + 0.3X and allows a discount of 5% on that if paid in cash. That means 0.95 (X + 0.3X) will be the cash sale price and that is given as 247 dollars. So,
0.95 (X + 0.3X) = 247
X + 0.3X = 247 / 0.95 = 260
1.3 X = 260
X = 260 / 1.3 = 200 dollars
So, 200 dollars is the cost price and 47 dollars is his profit. Expressed as a percentage of the cost, the profit is
47 x 100 / 200 = 47 / 2 = 23.5%
2007-07-18 02:25:36 · answer #3 · answered by Swamy 7 · 1⤊ 0⤋
125%=247
100%=x
x=247*100/125=197.6
his profit was 247-197.6=49.4
and the percentage is:
100%=197.6(cost)
x%=49.4
x=25%
hope that i have helped
yoav zilberman
israel
2007-07-18 02:29:48 · answer #4 · answered by tzvy1 1 · 0⤊ 0⤋
Let x = original cost
Then cash sales price = 0.95(1.3x)
0.95(1.3x) = 247
1.3x = 260
x = $200.00
Actual profit = 247 - 200 = $47
47/200 = 0.235 or 23.5% (percentage profit)
.
2007-07-18 02:23:33 · answer #5 · answered by Robert L 7 · 1⤊ 0⤋
So for cash, he makes a 25% profit on the selling price.
$247 * 25% = $61.75 profit
Cost = Sell - Profit
Cost = $247 - $61.75
Cost = $185.25
Profit/Cost = $61.75/$185.25 = 33.33%
2007-07-18 02:21:16 · answer #6 · answered by yeeeehaw 5 · 0⤊ 2⤋
Cost:
130%x - 5%(130%x) = $247.00
130%x - 6.5%x = $247.00
123.5%x = $247.00
x = $247.00 / 123.5%
x = $200.00
The cost is $200.00.
Actual profit:
$247.00 - $200.00 = $47.00
Actual profit is $47.00.
% of profit over cost:
$47.00 / $200.00 = 23.5%
The profit over cost is 23.5%.
2007-07-21 23:18:00 · answer #7 · answered by Jun Agruda 7 · 2⤊ 0⤋