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Profit Problem

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Profit Problem

by oks » Wed May 13, 2009 5:13 pm
Loren bought a roll of cloth and sold it for a 5% profit based on the selling price. If Loren‘s profit was $45.5 total on the cloth, how much did it cost her to buy the cloth?
(a) $455.
(b) $525.5.
(c) $675.
(d) $810.5.
(e) $864.5.

OA: E
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by DeepakR » Wed May 13, 2009 6:00 pm
Let SP be the selling price.

We know that, SP - CP = profit and its given that:
5/100 (SP)= Profit = 45.5 so SP=910.

Hence 910-CP=45.5 so CP=$864.5=E.)

-Deepak
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by sureshbala » Thu May 14, 2009 3:55 am
Let the SP be 100 $

Given profit = 5 $

So CP = 95 $


Hence if for a profit of 5 $, the CP is 95 $

So for a profit of 45.5 $, the CP is 45.5/5 x 95 = 9.1 x 95 = 864.5 $
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