Question

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.

Answer 1

@zepdrix

Answer 2

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.