Question

the selling price of a television set is $360 the profit is 20% of the cost find the cost of the television set

Answer 1

selling price= cost+(20%)(cost)
360=1.20*cost
cost=360/1.20=$300

Have a great day!

Answer 2

To find the cost you need to first find the profit of the television set. To do so take $360 x 0.20. This equals 72, which is the profit portion of the cost. You then want to take 360 - 72. This equals 288, which is the actual cost of the television set.