Suppose a product costs R10 and the profit rate is 20% on the cost price, find the selling price

Suppose a product costs R10 and the profit rate is 20% on the cost price, find the selling price

Question
Upper level probability
asked 2020-10-18
Suppose a product costs R10 and the profit rate is 20% on the cost price, find the selling price

Answers (1)

2020-10-19
Given:
Cost price: R10
Profit rate: 20%
The selling price is then the cost price increased by 20% of the cost price.
Selling price = Cost price+Profit rate*Cost price.
PSK=R10+20%*R10 =R10+0.20*R10 =1.20*R10 =R12ZSK
Thus the selling price is R12.
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