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4 cards from this section. Quick, good the night before a test.
What is the cost price if a product is sold for $150 with a profit of $50?
Use the profit formula.
If a book is priced at $30 and has a 20% discount, what is the selling price?
Calculate the discount first.
What is the formula for profit?
Think about what you gain over your initial investment.
True or False: The selling price can never be less than the cost price.
Consider what happens when you sell something for less than you bought it.
A retailer sells a phone at a 30% profit on its cost price of $400. If the phone is then marked down 25%, what is the new selling price?
First calculate the profit, then apply the discount.
An item has a marked price of $500. If two successive discounts of 20% and 15% are applied, followed by a 10% GST, what is the final amount payable by the customer?
Calculate each discount separately before adding GST.
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