Question

elizenth gained 20% by selling
a novel at $120, find the price
at which she purchased a
novel.​

Answer 1

Answer:

Step-by-step explanation:

120%=120

100%

100×120÷120=100

$100

Answer 2

Elizenth gained 20% by selling a novel at $120, the price at which she purchased a novel is $100.

Given:

Profit% = 20%

Selling price = $120

To find:

Cost price = ?

Solution:

Profit:

The amount gained financially after selling a product or simply the difference between the cost price and the selling price of the product.

Formula used:

Profit% = $[\frac{Profit}{Cost price}]100$

Profit = Selling price - Cost price

Let the Cost Price is 'x'.

$20 = [\frac{120-x}{x}]100\\ \\20x = 12000-100x\\\\120x=12000\\\\x=100.$

Since, the value of x is 100.

Therefore, elizenth gained 20% by selling a novel at $120, the price at which she purchased a novel is $100.