A television set was marked for sale at $760.00 in order to make a profit of 20 percent,the television set was actually sold at discount of 5percent.calculate,correct to 2 significant figures,the actual percentage profit.
you just said it sold for 20% profit, right?
But, if you want the original profit, then
1.20/0.95 = 1.263
or 26.3%
To calculate the actual percentage profit, we need to find the difference between the selling price and the cost price, then divide it by the cost price and multiply by 100.
Step 1: Calculate the cost price:
Let's assume the cost price of the television set is "C".
Step 2: Calculate the selling price:
The television set was sold at a discount of 5%, so the selling price is 95% of the marked price ($760).
Selling Price = 95/100 * $760 = $722
Step 3: Calculate the difference between the selling price and the cost price:
Profit = Selling Price - Cost Price
Profit = $722 - C
Step 4: Calculate the actual percentage profit:
Actual Percentage Profit = (Profit / Cost Price) * 100
Actual Percentage Profit = ((722 - C) / C) * 100
Given that the desired profit is 20%, we can set up an equation:
20 = ((722 - C) / C) * 100
Step 5: Solve the equation to find the value of C:
20/100 = (722 - C) / C
0.2 = (722 - C) / C
0.2C = 722 - C
1.2C = 722
C = 722 / 1.2
C ≈ 601.67 (rounded to 2 decimal places)
Step 6: Calculate the actual profit percentage using the cost price:
Actual Percentage Profit = ((722 - 601.67) / 601.67) * 100
Actual Percentage Profit ≈ 19.94%
Therefore, the actual percentage profit, rounded to 2 significant figures, is approximately 19.94%.
To calculate the actual percentage profit, we need to find the difference between the selling price and the cost price, and then express it as a percentage of the cost price.
First, let's find the discount amount. The television set was sold at a discount of 5 percent.
Discount Amount = 5% of $760.00
= (5/100) * $760.00
= $38.00
Next, let's find the selling price after the discount.
Selling Price = $760.00 - $38.00
= $722.00
Since the selling price is the amount received after the discount, we can now find the cost price of the television set.
Cost Price = Selling Price / (1 + Profit Percentage/100)
Profit Percentage = 20%
Cost Price = $722 / (1 + 20/100)
= $722 / 1.20
= $601.66 (approx.)
Now, we can find the profit amount.
Profit = Selling Price - Cost Price
= $722.00 - $601.66
= $120.34
To find the actual percentage profit, we divide the profit amount by the cost price and multiply by 100.
Actual Percentage Profit = (Profit / Cost Price) * 100
= ($120.34 / $601.66) * 100
≈ 20.00%
Therefore, the actual percentage profit, correct to 2 significant figures, is 20.00%.