Math, asked by snehanntitus, 1 year ago

Find the cost price, if the selling price is £98 and the mark-up is 40%. Explain the answer, please!

Answers

Answered by TooFree

Find the selling price in percentage:

Mark up = 40%

Selling Price = cost price + mark up

Selling Price = 100 + 40 = 140%

Find the cost price:

Selling Price = 140%

Selling Price = £98

140% = £98

1% = 98 ÷ 140 = £0.70

100% = 0.7 x 100 = £70

Answer: The cost price is £70

TooFree: You are welcome :)

snehanntitus: Also, I've a doubt.

snehanntitus: Never mind.

snehanntitus: Is the method you did unitary method?

TooFree: if you consider finding 1% .. then 100% .. yes .. it is unitary method

snehanntitus: Can you explain it?

snehanntitus: ^Unitary method.

TooFree: Unitary method means you find the value of one unit first before finding the quantity that you want.

TooFree: 5 apples = $10
Find 1 apple first
1 apple = 10 ÷ 5 = $2
Then find the number of apples you want, say 3
3 apples = $2 x 3 = $6

snehanntitus: Oh. Ok. Thank you!

Previous Question

Next Question