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Hello,
Can anyone help me with this problem please?
A goes to Navik to buy an article costing 15% less than in Bombay. A spends \$150 on traveling and gains \$150 after its sale in Bombay. His profit percent is?
I did a few attempts on this problem, and I will walk you through them, but could you please share your approach to this problem? Thank you very much!
got the breakdown of pieces of information necessary to write the
>equations, but I don't seem to be able to find the equation that
>correctly correlates the expressions together. The expressions somehow
>relate to each other, but I don't know how. I wrote several formulas-
>one for profit percent, another for profit, and yet another for selling
>price-but I can't solve them. Then, I tried to relate what I know -
>profit of \$150 to the cost of \$(0.85+150) - but then did not know how
>to set up the second half of the equation on the other side of the
>equal sign. I tried that side to equal profit/0.85\$x but I am having
>one equation with 2 unknowns, where one unknown is profit and the other
>is x. And I don't know what the second equation could be!
>
>[Thoughts]
>A---------->Nasik------------>Bombay
> Cost Price
> \$x-0.15(\$x)
> 0.85(\$x)
>
>A--------->Bombay
> Cost price
> \$x
>
>Nasik-------------------->Bombay
>Cost Price Cost Price Profit Amount %Profit
>0.85(\$x) (0.85(\$x)+\$150) \$150 TBD
>
>Profit=Selling Price-Cost Price
>\$150=S.P.-0.85(\$x)+\$150
>0.85(\$x)=S.P.
>So Selling Price is 0.85(\$x). Now, I am thinking if it makes sense. It
>might because he spent \$150 on travels and his profit amount was \$150
>as well, so he neutralized his profit. The profit also depends of
>course on the cost, not only on related travel expenses, which
>represent additional cost here. So, I will know for sure what percent
>profit was when I calculate how profit relates to cost. I am having a
>hard time calculating that.
>
>Another attempt is:
>Profit % = [profit/cost price]*100%
>Profit % = [\$150/$(0.85x+150)]*100%
>Profit = [150/(0.85x+150)]*100
>So, the two unknowns here are the profit and x.
>
>I was originally thinking of using the Profit equation directly above
>with this equation directly below to give me a set of two equations
>with two unknowns. But after thinking some more, I realized that I
>cannot equal the two sides of the second equation because the % profits
>do NOT equal. This is the equation that I am talking about:
>[150/(0.85x+150)]=[profit/0.85x]
>This equation isn't right because each side of the equation expresses %
>profit and % profits in both situations do NOT equal.
>
>Another attempt:
>Selling Price=[(100% + Gain%)/100%]*Cost Price
>0.85\$X = [(100% + ?)/100%]*0.85($x)+\$150
>
>As you can see nothing is coming out. I have no idea why.
Can anyone help me with this problem please?
A goes to Navik to buy an article costing 15% less than in Bombay. A spends \$150 on traveling and gains \$150 after its sale in Bombay. His profit percent is?
I did a few attempts on this problem, and I will walk you through them, but could you please share your approach to this problem? Thank you very much!
got the breakdown of pieces of information necessary to write the
>equations, but I don't seem to be able to find the equation that
>correctly correlates the expressions together. The expressions somehow
>relate to each other, but I don't know how. I wrote several formulas-
>one for profit percent, another for profit, and yet another for selling
>price-but I can't solve them. Then, I tried to relate what I know -
>profit of \$150 to the cost of \$(0.85+150) - but then did not know how
>to set up the second half of the equation on the other side of the
>equal sign. I tried that side to equal profit/0.85\$x but I am having
>one equation with 2 unknowns, where one unknown is profit and the other
>is x. And I don't know what the second equation could be!
>
>[Thoughts]
>A---------->Nasik------------>Bombay
> Cost Price
> \$x-0.15(\$x)
> 0.85(\$x)
>
>A--------->Bombay
> Cost price
> \$x
>
>Nasik-------------------->Bombay
>Cost Price Cost Price Profit Amount %Profit
>0.85(\$x) (0.85(\$x)+\$150) \$150 TBD
>
>Profit=Selling Price-Cost Price
>\$150=S.P.-0.85(\$x)+\$150
>0.85(\$x)=S.P.
>So Selling Price is 0.85(\$x). Now, I am thinking if it makes sense. It
>might because he spent \$150 on travels and his profit amount was \$150
>as well, so he neutralized his profit. The profit also depends of
>course on the cost, not only on related travel expenses, which
>represent additional cost here. So, I will know for sure what percent
>profit was when I calculate how profit relates to cost. I am having a
>hard time calculating that.
>
>Another attempt is:
>Profit % = [profit/cost price]*100%
>Profit % = [\$150/$(0.85x+150)]*100%
>Profit = [150/(0.85x+150)]*100
>So, the two unknowns here are the profit and x.
>
>I was originally thinking of using the Profit equation directly above
>with this equation directly below to give me a set of two equations
>with two unknowns. But after thinking some more, I realized that I
>cannot equal the two sides of the second equation because the % profits
>do NOT equal. This is the equation that I am talking about:
>[150/(0.85x+150)]=[profit/0.85x]
>This equation isn't right because each side of the equation expresses %
>profit and % profits in both situations do NOT equal.
>
>Another attempt:
>Selling Price=[(100% + Gain%)/100%]*Cost Price
>0.85\$X = [(100% + ?)/100%]*0.85($x)+\$150
>
>As you can see nothing is coming out. I have no idea why.
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