Question

PLEASE HELP ASAP

A shop sells a washing machine for £236.25, making a profit of 5%. At what wholesale price did the shop buy the washing machine?
Original price = £

Answer 1

£225

Explanation:

The relationship between the cost price (cp) and the selling price (sp) is ...

cp + 5% × cp = sp

cp(1.05) = sp . . . . . . collect terms

cp = sp/1.05 . . . . . . divide by 1.05

cp = £236.25/1.05 = £225

The original wholesale price was £225.