×100 Let c=cost price Selling price =60000 Profit %=20 20=
60000−c
c
×100 Get rid of the fraction by multiplying both sides of the equation by the denominator (c) c×20=(60000−c)×100 20c=60000×100−100×c 20c+100×c=60000×100 120c=60000×100
Divide both sides by 120 c=
60000×100
120
c=50000 Cost price =GH₵550,000 Alternate Solution The cost price is 100% and the selling price is 100%+ Profit \% Once you know each of the percentages, you can use proportionality to calculate the other. Selling Price %=100+20=120% 120=60000 100=