Question

7. A car lot owner pays his salespeople

a commission of 10% on total sales.

The owner wants to make a profit of

1 Lakh on each car. The cost price of a

car is Nu 90,000. What must the selling

price of the car be for the owner to

make a profit and pay commission?​

Answer 1

Answer: 2,11,111

Explanation:

The cost price is: 90000

The profit needed is 100000

Profit + commission = Selling price - cost price

Selling Price - 90,000 = 1,00,000 + 10%Selling Price

SP - 90,000 = 1,00,000 + 0.1 * SP

0.9 * SP = 1,00,000 + 90,000

0.9 * SP = 1,90,000

Selling Price = 1,90,000 / 0.9

SP= 2,11,111.11