Problema Solution
If James sells his camera at a discount of 5 % of the usual price, he will make a profit of $ 17.50. If he sells the camera at a discount of 17% of the usual price, he will lose $ 108.50. How much must he sell the camera if he wishes to make a profit of 6%?
Answer provided by our tutors
Let
x = the cost of the camera
y = the sell price of camera
(1.00 - 0.05)y - x = 17.50
(1.00 - 0.17)y - x = -108.50
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click here to see the system of equation solved for x and y
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x = $980
y = $1050
In order to make 6% profit on $980 means the selling price should be:
980 + 0.06*980 = 1.06*980 = $1,038.80
The camera should be sold for $1,038.80.