Question

cost price 1055 selling price 6928​

Answer 1

Answer:

Step-by-step explanation:

. A bag was sold for $324 thereby gaining 8%. Find the cost price of the bag.

Solution:            

Given selling price = $324                            

Gain% = 8%                                                        

We know, cost price = selling price × 100/100 + gain%                    

Therefore, cost price = 324 × 100/100 + 8                              

                            = 324 × 100/108                          

                            = 12 × 25

                            = $300                            

Therefore, the cost price of the bag is $300.

Answer 2

SP>CP

So, Profit = SP - CP

= 6928 - 1055

= 5873