Question

1. A shopkeeper buys a stove from a manufacturer. The shopkeeper sells the stove for $2700 at a profit of 25%.

(a) What is the cost price of the stove to the shopkeeper from the manufacturer? (4 marks)
(b) If the shopkeeper gives a 15% discount for cash, how much money does a customer pay for the stove?​

Answer 1

a.divide the amount by the percentage.

$2700× 25%

Ans:$675

subtract the selling price from the profit.

$2700 - $675

Ans:$2025

b.divide the 15% from selling price.

$2700 × 15%

Ans: 405

deduct the selling from from the discount given.

$2700 - $405

Ans: $2,295