• anonymous
A shopkeeper buys an article at 70% of its printed price.He spends $40 on transport of the article.After charging Sales tax at the rate of 10% on the printed price ,he sells the article for $7040.Find his profit as cent to the nearest integer.
  • Stacey Warren - Expert
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  • chestercat
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  • anonymous
  • mathstudent55
The item has an unknown printed price of x. He bought it at 40% of the printed price, so he bought it for 40% of x, or 0.4x He paid $40 shipping, so the total amount he paid was 0.4x + 40 Then he sold it for the printed price plus 10% tax. He sold it for $7040. Since he sold it with a 10% tax added, with tax, the total sale price was 110% of the printed price. 110% of x = $7040 1.1x = 7040 The equation above let's you solve for x, the printed price. Once you find x, substitute x in 0.4x + 40 to find out how much the item cost the shopkeeper. Then subtract x minus the cost to find his profit.

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