A shopkeeper made a loss made a loss of 30%by selling an electric iron at sh 700 what profit would he have made had he sold it at sh 1150?
V = value
(1 - 0.30) V = 700
V = 700/0.7=1000
1150 - 1000 = 150
30%=700/1150×100%
=150$
To find the profit the shopkeeper would have made if he sold the electric iron at sh 1150, we need to calculate the cost price of the electric iron first.
We know that the selling price at a loss of 30% is sh 700. This means that the selling price is 70% (100% - 30%) of the cost price.
Let's denote the cost price as C.
So, 70% of C is equal to sh 700.
Mathematically, we can represent this as:
0.70C = 700
To find the cost price C, we need to isolate it on one side of the equation. We can do this by dividing both sides of the equation by 0.70:
C = 700 / 0.70
C = 1000
Therefore, the cost price of the electric iron is sh 1000.
Now, to find the profit made by selling the electric iron at sh 1150, we subtract the cost price from the selling price:
Profit = Selling Price - Cost Price
Profit = sh 1150 - sh 1000
Profit = sh 150
So, the shopkeeper would have made a profit of sh 150 if he sold the electric iron at sh 1150.