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by bourne159 » Thu Sep 04, 2008 2:19 pm
Selling price = $80
Let's assume the cost price as $X is $X
Profit is 25%of $X = 0.25X

Selling price = Cost price + profit
Therefore 80 = X + 0.25X = 1.25X
X= $64 (Cost price)

Profit = 80 -64 = 16
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