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
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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%
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