Question

Harry’s Hi-Fi makes a percentage profit of 25% on each television it sells. If they sell their new range for $2500, how much does each television cost them?

Answer 1

Based on the information given the amount that each elevator cost them is $2,000.

Using this formula

Cost=Sales price/(1+Percentage profit)

Where:

Sales price=$2,500

Percentage profit=25%

Let plug in the formula

Cost=$2,500/(1+.25)

Cost=$2,500/1.25

Cost=$2,000

Inconclusion the amount that each elevator cost them is $2,000.

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