Question

plz answer me the questions 1 and 2

Answer 1

1) Let the Cost Price(CP) be x, Selling Price (SP)=70 profit percent= 40%

We know SP=CP+Profit
Profit= (Profit Percent/100)*CP

therefore.
SP= CP + (40/100)*CP
70= x+ .4x
70=1.4x

x=70/1.4 = 50

profit= 70-50= 20

2) SP= CP-Loss

loss= (Loss %/100)*CP

let CP be x

SP= x- (20/100)*x
96=x- .2x
96= 0.8x
x=120

loss= 120-96= 24

Answer 2

1) Let the Cost Price(CP) be x, Selling Price (SP)=70 profit percent= 40%

We know SP=CP+Profit

Profit= (Profit Percent/100)*CP

therefore.

SP= CP + (40/100)*CP

70= x+ .4x

70=1.4x

x=70/1.4 = 50

profit= 70-50= 20

2) SP= CP-Loss

loss= (Loss %/100)*CP

let CP be x

SP= x- (20/100)*x

96=x- .2x

96= 0.8x

x=120

loss= 120-96= 24