Question

Paul bought and sold computers He wrote his buisness activity as follows Cost of computer =$1064 Marked price of computer paid in cash=$1399 Discount on marked price if paid in cash=5% Calculate the selling price if paid in cash and the profit or loss as a percentage of the cost price

Answer 1

Answer:

Selling price:  $1329.05

Percentage profit:  24.9%  (approx)

Step-by-step explanation:

After a 5% discount...

         selling price = 95% of marked price

                              = 0.95 × $1399

                              = $1329.05

As this is greater than the cost price, there was a profit of

         profit = selling price - cost price

                  = $1329.05 - $1064

                  = $265.05

As a percentage of the cost price, this is

        %profit = ( 265.05 / 1064 ) × 100%

                    ≈ 24.9%