Offei, a petty trader sold goods for GH¢36,240. The gross profit being 33\(\frac{1}{3}\)% on cost. What was the cost price?

Yricidri

4 years ago

The answer is wrong it's C not B.
First, change 331/3% to margin
331/3% = 100/3 × 1/100 = 1/3
Mark-up =1/3+1 = 1/4
=1/4 × ¢36240
= ¢9060

Cost price
= ¢36240 - ¢9060
= ¢27180

Ify73

5 years ago

Answer=B
36240×33 1/3=36240×1/3=12080
36240-12080=24160