Question

I sell a car for £6502 making a 22% profit. how much did i buy it for originally

Answer 1

£5329.51

Explanation:

Knowing that £6502 is the price with 22% profit, we can understand that £6502 is 122% of the original price meaning that the individual would have had to multiply their original value by 1.22 to get £6502!

To find our answer we, therefore, have to do the inverse...

• 6502 ÷ 1.22 = 5329.5082

Turning the value into money we round to 2d.p leaving our answer as...

• £5329.51

Hope this helps, have a lovely day! :)