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A product is sold at a profit of 30%. If the selling price is $130, what was the cost price?

Practice Questions

1 question
Q1
A product is sold at a profit of 30%. If the selling price is $130, what was the cost price?
  1. $100
  2. $90
  3. $110
  4. $120

Questions & Step-by-step Solutions

1 item
Q
Q: A product is sold at a profit of 30%. If the selling price is $130, what was the cost price?
Solution: Let the cost price be x. Selling Price = x + 30% of x = 1.3x. Thus, 1.3x = 130, so x = 100.
Steps: 0

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