Question

The profit on a refrigerator is 35% of the cost price if the profit is $280 find the cost price of the refrigerator and the selling price

Answer 1

Profit = 35%

Profit = $280

Find the cost price:

35% = $280

1% = 280 ÷ 35 = $8

100% = 8 x 100 = $800

Find the selling price:

Selling Price = 800 + 280 = $1080

Answer: The cost price is $800 and the selling price is $1080

Answer 2

Given ..

35% profit = $ 280

100 - 35 = 65 %

If 35 % = 280

65 % = 65 x 280 ÷ 35 = 520

65% = $ 520

280 + 520 = 800

Cost price = $ 800

Selling price = cost price + profit

= 800 + 280 = 1080

Selling price = $ 1080

$\bold{Answer \: =}$

$\bold{Cost \: price \: is \: 800}$

$\bold{Selling \: price \: is \: 1080}$