Question

Abel bought a mini hi-fi set for K600. He sold it to Bob at a loss of 20%.Bob sold it to Charles and made a profit of 5%.How much did Charles pay for it?

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Answer 1

K504

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To calculate the price at which Abel sold the hi-fi set to Bob, we subtract 20% of K600 from K600:

• Selling price =
• Initial price - 20% of initial price =
• K600 - 20% of K600 =
• K600 - 0.2 * K600 =
• K600 - K120 =
• K480

Now we add 5% of K480 to K480:

• Buying price =
• Selling price + 5% of selling price =
• K480 + 5% of K480 =
• K480 + 0.05 * K480 =
• K480 + K24 =
• K504

So, Charles paid K504 for the hi-fi set.