Question

I need help with these questions.

Please show workings.

Question 1:
A trader made a profit of 20% on a radio which he sold for N144 .Calculate the cost price of the radio .

Question 2:
A motor dealer sold a car at a loss of 20% by selling it at N10,000 . Find the cost price.


Note :
Cost price formula :

`C.P = S.P-P \\ or S.P+L`
Selling Price Formula :

`S.P = C.P + P \\ or C.P - Loss`
Profit Percentage ( P% ) formula :

`P \% = P/C.P × 100 \\ l \% = l/C.P × 100`
​

Answer 1

Question 1

Given

• SP = 144
• P = 20%
• CP = x

Use formula and solve for x:

• SP = CP + P
• 144 = x + (20% of x)
• 144 = x + 0.2x
• 144 = 1.2x
• x = 144/1.2
• x = 120

Cost price is N 120

Question 2

Given

• SP = 1000
• P = -20% (negative because of loss)
• CP = x

Use formula and solve for x:

• SP = CP + P
• 10000 = x - (20% of x)
• 10000 = x - 0.2x
• 10000 = 0.8x
• x = 10000/0.8
• x = 12500

Cost is N 12500