itznotmeh
itznotmeh itznotmeh
  • 04-06-2021
  • Mathematics
contestada

A refrigerator is sold for $1998 and a 11% profit is made.
Find the original cost of that refrigerator.

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igdwideyw9
igdwideyw9 igdwideyw9
  • 04-06-2021
The original price of the refrigerator sat at approximately $2,217.78
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sreedevi102
sreedevi102 sreedevi102
  • 04-06-2021

Answer:

Cost Price = $1800

Step-by-step explanation:

Let cost price (CP) be x

Selling price(SP) = 1998

Profit = Selling price - cost price = 1998 - x

  [tex]profit \% = \frac{SP - CP}{CP}[/tex]

       [tex]\frac{11}{100} = \frac{1998-x}{x}[/tex]

     [tex]0.11 = \frac{1998}{x} - 1\\\\1 + 0.11 = \frac{1988}{x}\\\\1.11 = \frac{1998}{x}\\\\x = \frac{1998}{1.11} = 1800[/tex]

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