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