A trader made 20% by selling a product for 18,000. Find the cost price?

Adesewa

8 hours ago

Since he made 20%profit then
let the cost price be B
20/100×B= 18000-B
0.2B =18000-B
collect like terms
0.2B+B=18000
1.2B=18000
divide both sides by 1.2,therefore
B= 15000
CHECK: Selling price= Cost price+ profit
Selling price= 15000 +20% of cost price= 15000+20/100× 15000
= 15000+3000
= 18000
Therefore cost price is 15000