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If a trader makes a profit of 15% on an item that costs $80, what is the selling

Practice Questions

Q1
If a trader makes a profit of 15% on an item that costs $80, what is the selling price?
  1. $90
  2. $92
  3. $95
  4. $85

Questions & Step-by-Step Solutions

If a trader makes a profit of 15% on an item that costs $80, what is the selling price?
  • Step 1: Identify the cost price of the item, which is $80.
  • Step 2: Calculate the profit by finding 15% of the cost price. This is done by multiplying 0.15 by 80.
  • Step 3: Perform the multiplication: 0.15 * 80 = 12. This means the profit is $12.
  • Step 4: Calculate the selling price by adding the profit to the cost price. This is done by adding 80 (cost price) and 12 (profit).
  • Step 5: Perform the addition: 80 + 12 = 92. This means the selling price is $92.
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