A government procurement supplier sells an office computer desk for ₱2,400, making a profit of 20% on the cost price. What was the original cost price to the supplier?
Answer and explanation
Correct answer: D. ₱2,000
- Step 1: Selling Price = Cost (1 + Profit%). ₱2,400 = Cost 1.20. Step 2. Cost = ₱2,400 / 1.20 = ₱2,000. Answer: ₱2,000, dividing the selling price ₱2,400 by 1.20. Why not the others: ₱1,920 takes 20% of selling price (₱480) instead of 20% of cost (₱400).
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