Question

Find the cost price if selling price=$96
Profit=40℅

Answer 1

Answer:

Let the price be X,

=> X + X * X / 100 = 96 (Cost + Cost * Profit/100 = Selling price)

=> 100 X + X^2 = 9600 (Multiplied both sides with 100)

=> X^2 + 100 X - 9600 = 0

By solving this we can get

X = 60 & X = -160

As price cannot be negative, answer is 60...

Verifying the result...

60 + 60 * 60/100

= 60 + 3600 / 100

= 60 + 36

= 96...