Question

By selling goods for birr 300 , a merchant made a profit of 20%. how much did the goods cost him​

Answer 1

The goods cost the merchant 250 Birr.

Step-by-step explanation:

To find out how much the goods cost, we need to first calculate the cost price of the goods.

Let's say the cost price of the goods is 'C'.

Given that the merchant made a profit of 20% by selling the goods for 300 Birr, we can write the equation:

Selling price = Cost price + Profit

300 = C + (20% of C)

300 = C + 0.2C

300 = 1.2C

Divide both sides of the equation by 1.2:

250 = C

Therefore, the goods cost the merchant 250 Birr.