Please solve

Question

A watch is sold by a salesman at a profit of 15% .If the selling price of the watch had been 48 more,the profit percent would have been 18% .At what price had the salesman bought the watch?

Answer 1

Let c = purchase cost of the watch

Let s = selling price

 

He sold the watch at a 15% profit so:

s = 1.15c   {equation 1}

 

If the selling price was 48 more then the profit would have been 18%:

s + 48 = 1.18c    {equation 2}

 

1.15c + 48 = 1.18c

48 = 0.03c

c = 48/0.03

c = $1,600

 

He purchased the watch for $1,600

 

Check:  sale price = 1.15c = 1.15(1600) = $1840

           

            1840 + 48 = 1.18(1600)

            1888 = 1888

Answer checks as correct