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A shopkeeper marked an article 420$ . but he says, buy one get one free and still 5% gain, find cost price?

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  • A shopkeeper marked an article 420$ . but he says, buy one get one free and still 5% gain, find cost price?


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Answer #1 | 23/12 2013 00:44
420 x 2= 840 price for two, but it's buy one get one free, and he still gains five percent profit, so I estimate that 5% of 420= .012= 12$ x 2 = 24$. Wow this is hard. making each cost 408$ but then he would be losing 95%. So saying that the second is free must mean that the cost for that second one is in the cost for the one you are paying for, to balance it so he doesn't lose profit, then add some extra to get 5% profit. So the cost is, 205.4$ per copy add it together for two = 410.8 add the estimated 12$ = 422.8, take off the rounded parts, and it should equal, or be close to 420$. Did I get it right, was I close, or wrong?
Answer #2 | 23/12 2013 04:50
This means that the merchant makes a 5% profit at a selling price of $240. Merchants cost is calculated: 100% + 5% = 105% = 1.05 240 = 1.05c c = 240/1.05 = $228.57 merchant's cost per article - .--

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