3. Find the selling price of an article which cost $8 and was sold at a gain of 25%. 4. Find the selling price in each of the following cases: Per cent of gain $475. 10% 25% 7% 300% 20%. 5. Tell the amount of profit or loss and the rate of profit or loss, if an article is bought for 6. Tell the amount of profit or loss and the rate of profit or loss if an article that sells for a dollar was bought for 50¢; for 25; for 10; for 1é. 7. A cow costing $125 gave 6723 pounds of milk in one year. The cost of her feed and care for the year was $154. The milk was sold for 10 cents a quart. Allowing 8.6 pounds of milk to the gallon, what per cent did the owner make on the cost of the cow and the expense of keeping her? 8. An investment of $78 in fertilizer for a certain field increased the value of the crop taken from it by $117. What was the per cent of gain on the amount spent for fertilizer? 9. A furniture dealer buys 6 couches at $35 each and 8 sets of dining chairs at $33 a set. He sells the couches at a profit of 40% and the dining chairs at a profit of 35%. For how much did he sell this lot of furniture? 10. A hardware dealer gets in a lot of scissors costing 62¢ a pair, of knives costing 38¢ apiece, of knives costing 78¢ apiece, of skates costing 90¢ a pair, and of razors costing $2.75 apiece. He marks them, to the nearest five cents, so as to make a profit of 30%. Find the marked prices. 43. To find the cost when the selling price and the gain or loss per cent are known. 1. What sum is 25% more than $4? 2. What sum is 25% less than $4? 3. 10% more than 50 is what per cent of 50? 4. 8% less than 200 is what per cent of 200? 5. 30% more than any number is what per cent of the number? 6. 2% less than any number is what per cent of that number? 7. An article bought for $8 is sold at a gain of 25%. What is the selling price? The selling price is what per cent more than the cost? The selling price is what per cent of the cost? 8. An article is sold at a gain of 6%. The selling price is what per cent of the cost? 9. A horse is sold at a loss of 15%. The selling price is what per cent of the cost? 10. 15% of a number is 75. What is the number? 11. 130% of a number is 285. What is the number? 12. By selling an article for $5 a boy made a profit of 25% on it. The selling price is what per cent of the cost? What was the cost? EXAMPLE. A hardware dealer marks a line of goods to sell at a profit of 40%. He finds a bucket marked to sell at $1.05, but the cost is not marked. Find the cost for him. SOLUTION. Selling price = 40% more than the cost. .75 1.40)1.05 98 70 70 Exercise 44 1. John sold his dog for $6 at a loss of 25%. What had 3. A furniture dealer has his stock marked to sell at a gain of 25%. Find the cost of a davenport marked at $75, a mirror at $3.75, a set of chairs at $25, and a rug at $45. 4. A grocer can sell strawberries at $3.60 a crate. How much should he pay for them to make 20% on them? 5. Mr. Jones finds that his increased yield from the use of a ton of fertilizer is 47 bushels of corn which he sells at 85 cents a bushel. He has agreed to pay for the fertilizer a price which will leave him a profit of 10% of its cost. What price should he pay the dealer for the fertilizer? 6. A real estate dealer can sell a certain lot for $575. He wants to buy it at a price so that he can make 15% on his investment. What should he pay for it? 7. A farmer claims that by a certain method of cultivation he has increased the yield of a field 15%. His yield with this cultivation was 31 bushels an acre. What would it have been without this method of cultivation, according to his estimate? Find result to the nearest bushel. 8. A man sold a farm for $5906.25. This was a gain of 25% on his total investment in the farm. Since buying the farm he had spent on improvements 5% of the purchase price of the farm. What was the original purchase price? 9. Mr. Martin sold a flock of 144 sheep for $1925. Since he bought them their value had increased 10% and the number of sheep had increased 20%. How much had he paid per head for the original flock? 44. Profit and loss formulas. 1. If you are told the cost of an article and the gain at which it is sold, how can you find the selling price? 2. Representing the cost by c, the gain by g, and the selling price by s, make a formula for finding the selling price. 3. If you know the cost of an article and the rate of gain, how can you find the gain? 4. Representing the rate of gain by r, make a formula for finding the gain when the cost and the rate of gain are known. 5. Representing the loss by l and the rate of loss by r, make a formula for finding the loss when the cost and the rate of loss are known. 6. If you know the cost and the rate of gain, how can you find the selling price? 7. Make a formula for finding the selling price when the cost and the rate of gain are known. 8. Make a formula for finding the selling price when the cost and the loss are known. 9. Make a formula for finding the selling price when the cost and rate of loss are known. The answers to the preceding questions give the following formulas: 1. Make a problem which tells you that c=$125 and g= $25, and requires you to find s. Find s, using formula 1. 2. Make a problem which tells you that c=6¢ and r= 33%, and requires you to find l. Find l. = 3. Make a problem which tells that r (the rate of gain) 83% and that c=$69.45, and requires you to find s. Find s. 4. Make and solve a problem requiring you to find telling you that r=18% and c=$345. 5. Replace the question marks in this table with values 6. In a certain city the gas company reduces the consumer's bill 10% if it is paid within ten days after it is sent out. Mr. Allison's bill was $4.80. He paid it within the ten days. How much did he pay? What per cent of the amount paid did he save by prompt payment? 7. Mr. White bought 18 tons of coal in October at $5.40 a ton, when he might have bought it in August at $4.25 a ton. What per cent (of the cost of the coal) did he lose by buying in October? 8. By buying coal in August Mr. Black pays only $4.25 a ton for 18 tons. If he had waited until October he must have paid $5.40 a ton. What per cent did he save by buying in August? 9. In a certain year an experiment station reported the cost of raising an acre of corn as follows: The acre produced 38.4 bushels. At what price per bushel must it be sold to yield a profit of 10%? |