Percentages involving Finances: Profit and Loss

Percentages involving Finances: Profit and Loss

TGM Original Questions

A storeowner buys a certain number of goods from supplier A at \(\$6\) as a unit price and sell at \(\$12\) as a unit price. The storeowner bears all other costs at \(\$4,000\) in total. Suppose the owner manages to sell all the goods and earns a profit of \(20\%\) on the total cost.

  1. Find the number of goods the owner buys from supplier A.

Another supplier B offers a lower unit price at \(\$4\) to the storeowner. The storeowner buys a new number of such goods from supplier B and sell at the unit price \(\$12\). But this time the storeowner only sells \(45\%\) of the goods and made a loss of \(10\%\) on the total cost. Suppose all other costs are also \(\$4,000\) in total.

  1. Find the new number of goods the owner buys from supplier B.

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Answer:(i) \(1000\) goods (ii) \(2000\) goods

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