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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22808
Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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A computer sells for $1960. The gross profit is calculated

Customer Question

A computer sells for $1960. The gross profit is calculated as ¾ of the cost. Assume that the selling price is the gross profit added to the cost. What is the cost and what is the profit?
Submitted: 4 years ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 4 years ago.

christhelawyer : HiWelcome to JustAnswer. My first response will follow shortly. Please feel free to follow up if anything is not clear
christhelawyer : I think you need to divide the selling price by 7, which is $280. So the cost is this times 4, which is 1120 and the profit is times 3 which is 840. This means that the profit is 3/4 of the cost.
christhelawyer : I am not a mathematician however
christhelawyer : But that does make the sums work

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