Question

A trader bought a tv set for birr 2000 and sold it at profit of 10% what was the selling price?(Assume the profit is a loss show your work with the same rate?)

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Answer 1

If the trader bought the TV set for Birr 2000 and sold it at a profit of 10%, the selling price can be calculated as follows:

Profit = 10% of the cost price = 10/100 * 2000 = Birr 200

Selling price = Cost price + Profit = 2000 + 200 = Birr 2200

Now, if the profit was a loss, we can use the same rate of 10% to calculate the selling price. In this case, the profit will be negative, indicating a loss.

Loss = 10% of the cost price = 10/100 * 2000 = Birr 200

Selling price = Cost price - Loss = 2000 - 200 = Birr 1800

Therefore, if the trader sold the TV set at a loss of 10%, the selling price would be Birr 1800.

Explanation: