The producer needed a total of ₱100 for the expenses. How much should he sell the product if he wants to gain 25% profit
Question
The producer needed a total of ₱100 for the expenses. How much should he sell the product if he wants to gain 25% profit?
Solution
To calculate the selling price for the producer to gain a 25% profit, follow these steps:
- Identify the cost price which is ₱100.
- Determine the profit percentage which is 25%.
- Convert the profit percentage to decimal form by dividing it by 100. So, 25/100 = 0.25.
- Multiply the cost price by the profit (in decimal form) to get the profit amount. So, ₱100 * 0.25 = ₱25.
- Add the profit amount to the cost price to get the selling price. So, ₱100 + ₱25 = ₱125.
Therefore, the producer should sell the product for ₱125 to gain a 25% profit.
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