Question

Chloe sold her watch at a profit of 12%. If she had sold it a price that was 5% lower, the profit would have been $64. Find the price at which she purchase
he watch.​

Answer 1

Answer:

I think rs 203 is this correct

Answer 2

Given:

Profit percentage (%) = 12%

Profit amount = $64

Let the amount of selling price (S.P) be x and the cost price be C.P Then,

According to question,

S.P = x - 5% of x

Solution:

Profit % = Profit amount/S.P× 100

12 = 64/(x - 5% of x) × 100

12 (x - 5% of x) = 6400

12 (x - 5x/100) = 6400

12 × 95x/100 = 6400

1140x = 640000

x = 640000/1140

x = $561.40 = S.P

Now,

Profit amount = S.P - C.P

64 = 561.40 - C.P

C.P = $497.4

Therefore, Chloe purchased the watch for $497.4.