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Mrs Lim will make a profit which is 19% of the import price if she sells the necklace at $4165. What will be her profit if she sells the necklace at $4270 and the import price of the necklace remains constant?

Question

Mrs Lim will make a profit which is 19% of the import price if she sells the necklace at 4165.Whatwillbeherprofitifshesellsthenecklaceat4165. What will be her profit if she sells the necklace at 4270 and the import price of the necklace remains constant?

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Solution 1

To solve this problem, we first need to find out the import price of the necklace.

  1. We know that the selling price of $4165 is 119% of the import price (100% original price + 19% profit).

  2. So, we can set up the equation: 1.19 * (import price) = $4165.

  3. Solving for the import price, we get: import price = 4165/1.19=4165 / 1.19 = 3500 approximately.

Now, we know the import price is $3500.

  1. If Mrs Lim sells the necklace at 4270,herprofitwillbe:4270, her profit will be: 4270 - 3500=3500 = 770.

So, Mrs Lim will make a profit of 770ifshesellsthenecklaceat770 if she sells the necklace at 4270 and the import price remains constant.

This problem has been solved

Solution 2

To solve this problem, we first need to find the import price of the necklace.

  1. We know that Mrs Lim makes a profit of 19% of the import price when she sells the necklace at $4165. So, we can set up the equation:

    Import price + 0.19 * Import price = $4165

  2. Simplifying this equation gives us:

    1.19 * Import price = $4165

  3. To find the import price, we divide $4165 by 1.19:

    Import price = 4165/1.19=4165 / 1.19 = 3500.84 (approximately)

Now that we know the import price, we can find out how much profit Mrs Lim will make if she sells the necklace at $4270.

  1. We know that her profit is 19% of the import price, so we can calculate:

    Profit = 0.19 * 3500.84=3500.84 = 665.16

  2. If she sells the necklace at $4270, her profit will be:

    Profit = 4270−4270 - 3500.84 = $769.16

So, if Mrs Lim sells the necklace at 4270,herprofitwillbeapproximately4270, her profit will be approximately 769.16.

This problem has been solved

Solution 3

To solve this problem, we first need to find the import price of the necklace.

  1. We know that the selling price of $4165 is 119% of the import price (100% original price + 19% profit).

  2. To find the import price, we can set up the equation: 1.19 * (import price) = $4165.

  3. Solving for the import price, we get: import price = 4165/1.19=4165 / 1.19 = 3500.

Now that we know the import price, we can calculate the profit if Mrs. Lim sells the necklace at $4270.

  1. The profit is the selling price minus the import price, so the profit would be 4270−4270 - 3500 = $770.

This problem has been solved

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