Knowee
Questions
Features
Study Tools

The owner of the cell phone shop charges 23% more than the cost price. If a customer paid 7011 for a cell phone, find the cost price of the cell phone.

Question

The owner of the cell phone shop charges 23% more than the cost price.

If a customer paid 7011 for a cell phone, find the cost price of the cell phone.

🧐 Not the exact question you are looking for?Go ask a question

Solution

Sure, here's how you can solve this problem:

  1. First, understand that the price the customer paid is 123% of the cost price. This is because the owner charges 23% more than the cost price.

  2. To find the cost price, you need to calculate what 100% would be.

  3. To do this, divide the price paid by the customer (7011) by 123%. Remember to convert the percentage to a decimal in the calculation, so 123% becomes 1.23.

  4. So, the calculation is 7011 / 1.23.

  5. When you do this calculation, you get approximately 5700.

So, the cost price of the cell phone is approximately 5700.

This problem has been solved

Similar Questions

The price of a cell phone was reduced from $450 to $225. By what percentage was the price of the cell phone reduced?

If you pay $20.34 each month for your cell phone for two years, how much is the total cost of your cell phone? Round your answer to the nearest hundredth.

The cost of a particular item is $2.70, which does not include GST at 10%. Calculate the total cost after GST is added.

The cost of a particular service is $583, which includes GST at 10%. Find the GST.

A particular service has a cost of $810 excluding GST at 10%. What is the total cost after GST is added?

1/3

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.