2. the selling price of a television is $2400 and its profit percentage is 20%. (1) what is the cost of the…

2. the selling price of a television is $2400 and its profit percentage is 20%. (1) what is the cost of the television? a. 1400 dollars b. 1600 dollars c. 1800 dollars d. 2000 dollars (2) if the cost of the television is not changed, how much should it be sold for if the profit percentage has to be 75%? a. 2500 dollars b. 3000 dollars c. 3500 dollars d. 4000 dollars

2. the selling price of a television is $2400 and its profit percentage is 20%. (1) what is the cost of the television? a. 1400 dollars b. 1600 dollars c. 1800 dollars d. 2000 dollars (2) if the cost of the television is not changed, how much should it be sold for if the profit percentage has to be 75%? a. 2500 dollars b. 3000 dollars c. 3500 dollars d. 4000 dollars

Answer

Explanation:

Step1: Find cost price in (1)

Let cost price be $x$. Profit percentage formula is $\text{Profit}%=\frac{\text{Selling Price}-\text{Cost Price}}{\text{Cost Price}}\times100$. Given selling price $S = 2400$ and $\text{Profit}%=20$, so $20=\frac{2400 - x}{x}\times100$. Divide both sides by 100: $0.2=\frac{2400 - x}{x}$. Cross - multiply: $0.2x=2400 - x$. Add $x$ to both sides: $1.2x = 2400$. Then $x=\frac{2400}{1.2}=2000$.

Step2: Find selling price in (2)

Cost price $x = 2000$ and new profit percentage is $75%$. Using $\text{Profit}%=\frac{\text{Selling Price}-\text{Cost Price}}{\text{Cost Price}}\times100$, $75=\frac{y - 2000}{2000}\times100$. Divide both sides by 100: $0.75=\frac{y - 2000}{2000}$. Cross - multiply: $0.75\times2000=y - 2000$. So $1500=y - 2000$. Add 2000 to both sides: $y=1500 + 2000=3500$.

Answer:

(1) D. 2000 dollars (2) C. 3500 dollars