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91% (00:52) correct
9%
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A certain radio costs a merchant $72. At what price must the merchant sell this radio in order to make a profit of 20%?
(A) $86.40
(B) $92
(C) $90
(D) $144
(E) $148
(A) $86.40
(B) $92
(C) $90
(D) $144
(E) $148
28 Feb 2018, 00:28
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Bunuel
A certain radio costs a merchant $72. At what price must the merchant sell this radio in order to make a profit of 20%?
(A) $86.40
(B) $92
(C) $90
(D) $144
(E) $148
(A) $86.40
(B) $92
(C) $90
(D) $144
(E) $148
If the radio costs the merchant $72, in order to make a profit of 20%,
the merchant would have to sell the radio at 1.2*$72 = $86.40
Therefore, the merchant must sell the radio at $86.40(Option A) to make a profit of 20%
28 Feb 2018, 11:30
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Solution
We are given:
- • Profit= 20% of cost price
• Cost= $72
We need to find:
- • Selling price such that merchant makes a profit of 20%
We know,
- • Selling price= Cost price + profit
• Selling price= Cost price+ 20% of cost price
• Selling price= $72+20/100* $72
• Selling price= $72+ 0.2* $72
• Selling price= $72+$14.40
• Selling Price= $86.40
Answer: A
