A trader buys a product for HK\$200 and sells it at a profit of 40% on the cost. What is the selling price?
Answer and explanation
Correct answer: C. HK\$280
- Step 1: Selling price = HK\200 × 1.4 = HK\.
Answer
HK\$280.
Why not the others: HK\$333.333: the profit is taken as a percentage of the selling price. HK\$240: the percentage is added as dollars. HK\$80: that is only the profit.
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