Question

- By selling a TV to a store for €1,116, a retailer makes a profit of 24%.

(a) How much did the store pay for the TV?

Answer 1

The store has paid €1,116

Explanation:

Given that:

Selling price = €1,116

profit = 24%

So the actual amount of the TV can be known by subtracting 24% amount from the selling price as follows:

Original price = €1,116 - 24% of €1,116

As 24% = 24/100 = 0.24 So:

Original Price = €1,116 - 0.24(€1,116)

Original Price = €1,116 - 267.84

Original price = €848.16

So the price excluding profit will be €848.16

i hope it will help you!