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A retailer buys a watch for $120 and sells it at a profit of 15%. What is the se
A retailer buys a watch for $120 and sells it at a profit of 15%. What is the selling price?
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Q1
A retailer buys a watch for $120 and sells it at a profit of 15%. What is the selling price?
$138
$140
$144
$150
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The selling price is calculated as $120 + (15% of $120) = $120 + $18 = $138.
Questions & Step-by-step Solutions
1 item
Q
Q: A retailer buys a watch for $120 and sells it at a profit of 15%. What is the selling price?
Solution:
The selling price is calculated as $120 + (15% of $120) = $120 + $18 = $138.
Steps: 6
Show Steps
Step 1: Identify the cost price of the watch, which is $120.
Step 2: Calculate the profit percentage, which is 15%.
Step 3: Find 15% of the cost price. To do this, multiply $120 by 0.15 (which is 15% in decimal form).
Step 4: Calculate $120 * 0.15 = $18. This is the profit amount.
Step 5: Add the profit amount to the cost price to find the selling price. So, $120 + $18 = $138.
Step 6: The selling price of the watch is $138.
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