PERCENTAGES B8

A man got a profit of 420/= after selling an item. Find the buying price if the percentage profit was 6%.

Solution

%’ge profit = Profit   X  100    where B. P. represents Buying Price.

                         B.P

6% = 420   X  100   

          B.P.

B.P. x 6 = 42,000   

        

B.P. x 6¹ =   42,000   

  ₁6                   6

B.P. = 7,000

                      

Hence Buying Price was 7,000/=