wholesaler sold a watch to the retailer at a profit 10%. The retailer then sold the watch to the customer for Rs. 2640 at a profit of 20%. Find the cost price of the watch for the wholesaler?
Answers
Answer:
Looks like you are solving profit and loss today
hahaha, apart the joke , I will help you
Cost price or C.P. = 2632.1
Step-by-step explanation:
Let C.P. be for retailer be x, that would be the selling price for the wholesaler ( I hope you understood it )
For retailer
S.P. = 2640
C.P. = x
Profit = S.P. - C.P.
Profit % = 20 %
so, Profit % = profit/ C.P. × 100
thus
20/100 = 2640 - x / x × 100
1/5 = 2640 - x / x
x/5 = 2640-x × 100
x/5 = 264000 - 100x
x = 5( 264000 - 100x )
x = 1320000 - 500x
501x = 1320000
x = 1320000/ 501
x = 2634.73054
So , C.P. for retailer and S.P. for wholesaler is 2634.73054 or 2634.73
So for wholesaler
S.P. = 2634.73
C.P. = let it be y
Profit = S.P. - C.P.
Profit % = 10%
So
10/100 = 2634.73 - y/ y × 100
1/10 = 2634.73 - y/y × 100
y = 2634.73 - y × 1000
y = 2634730 - 1000y
1001 y = 2634730
y = 2634730/1001
y = 2632.0979
So, C.P. for wholesaler is 2632.0979 or 2632.1
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Answer:
Step-by-step explanation:
Let the price paid by wholesaler for the watch be x.
As per question, the wholesaler sold the watch to a retailer at a gain of 10%.
Which means:
Price paid by the retailer: x+ (10x/100)
= 110x/100
Also it's said that the retailer sells it to the customer at a profit of 20%
WHICH MEANS:
PRICE PAID BY THE CUSTOMER: (110x/100)+(20/100)
= 130x/100
But, it is also mentioned in the question that:
Price paid by the customer: RS. 2640
Which means:
130x/100= RS. 2640
-> x = (2640×100) ÷ 130
-> x = RS 2030.8
Therefore the amount paid by the wholesaler for the watch is RS 2030.8