Question

The profit on a refrigerator is 30% of its cost. If the profit is $225, find the selling price.​

Answer 1

Answer:

$975

Step-by-step explanation:

(The sum can be done both in unitary method or in algebraic method.)

Unitary method:

When profit is $30, then SP is $130.

When profit is $1, then SP is $130/30.

When profit is $225, then SP is $130/30×225.

= $975.

(In case of algebraic method, first we need to find the CP or Cost Price.)

Algebraic method:

Let, CP be $x.

Profit%= 30%

Therefore, profit = $ 30/100 × x

= $ 3x/10

But, profit = $ 225 [given]

By The Problem, we get,

3x/10 = 225

or, x = 225×10/3

or, x = 75 × 10

or, x = 750

CP = $750

We know, SP = CP + profit

Therefore, SP = $ (750+225)

= $ 975

Hope it helps ☺️