Podcast
Questions and Answers
If the original cost price of an article is $100, what is the selling price after the first dealer makes a profit of 20%?
If the original cost price of an article is $100, what is the selling price after the first dealer makes a profit of 20%?
What is the total selling price when the article is ultimately sold at a profit of 38% on the original cost price?
What is the total selling price when the article is ultimately sold at a profit of 38% on the original cost price?
After the first dealer sells the article, what is the cost price for the second dealer?
After the first dealer sells the article, what is the cost price for the second dealer?
Which formula can be used to calculate the profit percentage of the second dealer if the first dealer's selling price is known?
Which formula can be used to calculate the profit percentage of the second dealer if the first dealer's selling price is known?
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If the second dealer needs to achieve an overall profit of 38% and the initial selling price is $120, what is the required selling price for the second dealer?
If the second dealer needs to achieve an overall profit of 38% and the initial selling price is $120, what is the required selling price for the second dealer?
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Study Notes
Problem Summary
- An article is sold at a 38% profit based on the original cost price.
- The first dealer makes a 20% profit.
- The problem seeks the profit percentage of the second dealer.
Calculations
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Let the original cost price be 'x'.
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The first dealer's selling price (SP1) = x + 0.20x = 1.20x
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This selling price becomes the cost price for the second dealer.
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The selling price of the second dealer (SP2) = x + 0.38x = 1.38x
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The second dealer's profit is calculated based on their cost price (1.20x).
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Profit for the second dealer = SP2 - Cost for second dealer = 1.38x - 1.20x = 0.18x
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Profit percentage for the second dealer = (Profit / Cost Price) * 100 = (0.18x / 1.20x) * 100 = 0.15 * 100 = 15%
Conclusion
- The second dealer makes a profit of 15% on their cost price.
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Description
This quiz focuses on understanding profit calculations in a multi-dealer scenario. It examines how profit margins are adjusted when sold from one dealer to another, ultimately determining the profit percentage of the second dealer. Test your knowledge of cost price and profit formulas through practical examples.
