Question

John sold a power generator and made a profit of 98 kina which is equal to 4½% of the cost price. What was the cost price of the generator?

Answer 1

Given:

Profit= 98 Kina

Profit is equal to 4½% or 4.5% of the cost price

4.5%=0.045

To determine the cost price of the generator, we let x be the cost price of the generator.

Since the profit is equal to 4½% or 4.5% of the cost price, the equation is:

`0.045x=98`

Next, we get the value of x:

`\begin{gathered} 0.045x=98 \\ \text{Simplify and rearrange} \\ x=(98)/(0.045) \\ x=2177.78\text{ Kina} \end{gathered}`

Therefore, the cost price of the generator is 2177.78 Kina.