Question

The profit of a certain refrigerator is 35% of the cost price. If the profit is $280, find

a. The cost price
b. The selling price of the refrigerator

Answer 1

profit%=35%

Let cp be x

profit =$280

To find cost price of a refrigerator use formula

profit%=profit/cost price *100

35%=$280/x*100

35%=$28000/x

35*x=$28000

x=$28000/35

x=$800

now to find the selling price of a refrigerator use formula

selling price=cost price +profit

=$800+$280

=$1080

Explanation:

therefore the cost price of a refrigerator is $800 and selling price is $1080