Question

Q 39 Gary Halpert sold his wallet at a profit of 12%. If he purchased the wallet al $450, then find the price at which he sold the wallet
Ops: A.
$504
B.$675
c.$475
D.625​

Answer 1

Answer:

Option A 504

Step-by-step explanation:

Cp = 450

Sp =cp +12%cp

Sp= 450+12%100*450

504

Answer 2

The correct answer is option (A) $ 504

Given:

Gary Halpert sold his wallet at a profit of 12%.

He purchased the wallet at $ 450

To find:

The selling price of wallet

Solution:

Given that On selling wallet Gary Halpert gained 12% profit

Which means he got 12% profit on $ 450 [∵ he bought wallet for $ 450]  

Then the profit gain on $ 450 = $\frac{12}{100} (450)$ = $ 54

As we know Profit = Selling price - Cost price

⇒ Selling price = Cost price + Profit

⇒ Selling price = $ 450 + $ 54 = $ 504

Selling Price of Wallet = $ 504

The correct answer is option (A) $ 504

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