Question

A dishwasher is purchased for $640 and is marked up by 25%. What are the selling price and profit?

Answer 1

Answer:

Selling price $800

Profit $160

Step-by-step explanation:

Cost price (CP) = $640

Selling price (SP)

= CP + 25% of CP

= CP + 0.25 CP

= ( 1 + 0.25 ) CP

= 1.25 CP

= 1.25 × $640

= $800

Profit = SP - CP = $800 - $640 = $160