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This is a problem from Kaplan
Practice Test :
A TV salesman makes a profit of 25 percent on all sales. How many TVs will he have to sell for $ 325 each to make a totl profit of atlest $200 ?
since profit is 25% of 325 ( little over $80 per tv) he has to sell 3 tv sets to cross $200 mark ..
But can we calculate profit on selling price ?
If he sells a tv set for $325 and makes a 25% profit, he must have bought it for
(100/125) * 325 = $ 260
that means , he makes a profit of $65 per tv he sells ..
So to cross $200 mark, he must sell at least 4 TV sets ..
Any comments ??