Question

A merchant sold a pen for $5.35 thereby making a profit of 7% on the cost to him. Calculate:
(i) the cost of the pen to the merchant.
(ii) the selling price the merchant should request in order to make a profit of 15% .

Answer 1

t those your answer choices?

Answer 2

r*

Answer 3

questions I'm trying to find the answer to

Answer 4

ok ill try to help

Answer 5

ok
that would be great

Answer 6

ok so thoseare your only 2 options

Answer 7

what one do you think it is?

Answer 8

this is profit and loss

Answer 9

i saw it as only 2 options and i believe its the 2nd one

Answer 10

ok thanks

Answer 11

This is not a multiple choice question. It is asking for two separate calculations.

(i) the cost of the pen to the merchant.
$5.35 is the price after the merchant makes a 7% profit.

let's let x = the price to the merchant
the merchant marks it up by 7%, so the selling price is x + (7% of x), or x + 0.07x

x + 0.07x = 5.35
solve for x.

Answer 12

(ii) the selling price the merchant should request in order to make a profit of 15% .

if he wants to make a profit of 15%, then he needs to sell it for the original price (x), plus 15% of that price

so x + 0.15x is your equation, plug in the x value you got from part (i).