A shopkeeper made a loss made a loss of 30%by selling an electric iron at sh 750 what profit would he have made had he sold it at sh 1150?
To find out the profit made, we need to calculate the cost price of the electric iron.
If selling the electric iron at sh 750 resulted in a loss of 30%, the selling price would represent only 70% of the cost price.
Let's say the cost price is represented by x.
So, 70% of x = sh 750.
Converting 70% to a decimal, we get 0.7.
Hence, 0.7x = 750.
To find the cost price x, we divide both sides of the equation by 0.7:
x = 750 / 0.7.
So the cost price of the electric iron is sh 1071.43 (rounded to 2 decimal places).
If the electric iron was sold for sh 1150, the profit would be the difference between the selling price and the cost price:
Profit = Selling price - Cost price.
Profit = sh 1150 - sh 1071.43.
Profit = sh 78.57.
Therefore, the shopkeeper would have made a profit of sh 78.57 if he had sold the electric iron for sh 1150.