Question

A woman sold an article for 20.00cedis and made a profit of 25%.Find the cost price of the article.

Answer 1

The cost price = GHc 16.00

Explanation:

Selling price = GHC 20.00

Profit Percent = 25%

Cost price = ?

Formula for finding cost price =

`(100)/(100 + profit \: percent) * selling \: price`

Let's insert the numbers

`(100)/(100 + 25) * 20 \\ = (100)/(125) * 20 \\ = (4)/(5) * 20 \\ = (4 * 20)/(5) \\ = (80)/(5) \\ = 16`

So therefore ; the cost price is GHC 16.00