Question

Please help me, the booklet says that the answer is $620, but I need working out

Answer 1

Given details :

• The selling price of a chandelier is $899
• The profit gained js 45%

To find :

• The cost price / Wholesale price

Solution :

We know that CP is ,

• 
  `\sf\implies\:CP\:=\:(100)/(100\:+\:P\%)\:*\:SP`

Put the values in the formula ,

• 
  `\sf\implies\:CP\:=\:(100)/(100\:+\:45\%)\:*\:899`

• 
  `\sf\implies\:CP\:=\:(100)/(145)\:*\:899`

• Simplify 899 with 145 that gives us 6.2

• 
  `\sf\implies\::\:CP\:=\:100\:*\:6.2`

• CP = $620