a shop kepper mark a television set for a sale of $36,000 so as to make a profit of 20% on the cost price,but during a specail sale period the television was sold as 5% of the marked price
what is the percentage profit
show step plz
thanks
Please proofread.
I doubt if the TV set would cost $36,000.
Are you referring to U.S. dollars?
360 was his profit ?!
To find the percentage profit, we need to calculate two things: the cost price and the selling price during the special sale period.
First, let's find the cost price of the television set. Since the shopkeeper wants to make a 20% profit on the cost price, we can use the formula:
Profit = (Profit Percentage / 100) * Cost Price
20% profit on the cost price can be expressed as 1.2 (since 100% + 20% = 120% = 1.2).
So, we have the equation:
1.2 * Cost Price = $36,000
Now, let's solve for the cost price:
Cost Price = $36,000 / 1.2
Cost Price = $30,000
The cost price of the television set is $30,000.
Next, we need to find the selling price during the special sale period, which is 5% of the marked price. We can calculate this using the formula:
Selling Price = (Selling Percentage / 100) * Marked Price
5% of the marked price can be expressed as 0.05.
Let's find the selling price:
Selling Price = 0.05 * Marked Price
Since the marked price is $36,000, we can substitute it into the equation:
Selling Price = 0.05 * $36,000
Selling Price = $1,800
The selling price during the special sale period is $1,800.
Now, let's calculate the percentage profit using the formula:
Percentage Profit = ((Selling Price - Cost Price) / Cost Price) * 100
Percentage Profit = (($1,800 - $30,000) / $30,000) * 100
Percentage Profit = (-$28,200 / $30,000) * 100
Percentage Profit = -94%
The percentage profit, in this case, is -94%. This negative value indicates a loss instead of a profit during the special sale period.