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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink]
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goodglory wrote:
A retailer sold an appliance for $80. If the retailer's gross profit on the appliance was 25 percent of the retailer's cost for the appliance, how many dollars was the retailer's gross profit?

A. 10
B. 16
C. 20
D. 24
E. 25


Profit= Revenue - Cost. .25C= 80 -C 1.25C=80 so 5/4C=80

4/5*80=C --> 64 So 80-64= Profit.

B
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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink]
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Keep in mind the following Formula:
Profit= Selling Price- Cost

Cost=X
Selling Price= 80
Profit= 1/4(x) -->25% of the Cost

Now replace tha variables in the equation

1/4x = 80 - x
5/4x =80
x=64

The question ask for the profit so u just need to put tha value of x in the profit--> 1/4*(64) =16
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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink]
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80 has 25% profit included

Lets say product was obtained for x

\(\frac{125x}{100} = 80\)

x = 64

Profit earned = 80-64 = 16

Answer = C
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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink]
Let CP be x.
Now, CP + profit = SP.
x + \(\frac{1}{4}\) x = 80

\(\frac{5}{4}\) x = 80.

We need the value of only profit i.e. we need the value of \(\frac{1}{4}\) x. Divide both sides by 5.

\(\frac{1}{4} x = \frac{80}{5}\)

Profit = 16$

OA,B
goodglory wrote:
A retailer sold an appliance for $80. If the retailer's gross profit on the appliance was 25 percent of the retailer's cost for the appliance, how many dollars was the retailer's gross profit?

A. $10
B. $16
C. $20
D. $24
E. $25
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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink]
let sell price be s, cost price be c and profit be p
\(s=80, p=\frac{c}{4}\)
now, \(s-c=p\)
or, \(80-c=\frac{c}{4}\)
or, \(c=16*4\)

Therefore, profit = \(p = \frac{c}{4} = 16\)

Answer: B
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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink]
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Re: A retailer sold an appliance for $80. If the retailer's gross profit [#permalink]
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