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A retailer sold a blender for 234 dollars. If the retailer's gross profit on the blender was 20% of the retailer's cost for the blender, how many dollars was the retailer's gross profit?

Explanation	Calculations	Help
$We create unknowns for the retailer's cost and the retailer's gross profit$	$C = cost of the blender P = gross profit on the blender$	Theory & Tactics Method Card TRANS1-A Click to view full details
$We translate "gross profit on the blender was 20 percent of the retailer's cost" into a percentage relationship$	$P = \frac{20}{100} \times C$	Theory & Tactics Method Card TRANS2-A Click to view full details
$We set the selling price equal to the sum of cost and profit$	$234 = C + \frac{20}{100} \times C$	Theory & Tactics Method Card TRANS3-A Click to view full details
$We combine like terms and solve for the cost by isolating the variable$	$C + \frac{20}{100} C = 234 \frac{120}{100} C = 234 C = 234 \times \frac{100}{120} = 234 \times \frac{5}{6} = 195$
$We calculate the gross profit by finding 20 percent of the cost$	$P = \frac{20}{100} \times 195 \frac{1}{5} \times 195 = 39$	Theory & Tactics Method Card FDPR4-A Click to view full details

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C

A retailer sold a blender for 234 dollars. If the retailer's gross profit on the blender was 20% of the retailer's cost for the blender, how many dollars was the retailer's gross profit?

Explanation	Calculations	Help
$We create unknowns for the retailer's cost and the retailer's gross profit$	$C = cost of the blender P = gross profit on the blender$	Theory & Tactics Method Card TRANS1-A Click to view full details
$We translate "gross profit on the blender was 20 percent of the retailer's cost" into a percentage relationship$	$P = \frac{20}{100} \times C$	Theory & Tactics Method Card TRANS2-A Click to view full details
$We set the selling price equal to the sum of cost and profit$	$234 = C + \frac{20}{100} \times C$	Theory & Tactics Method Card TRANS3-A Click to view full details
$We combine like terms and solve for the cost by isolating the variable$	$C + \frac{20}{100} C = 234 \frac{120}{100} C = 234 C = 234 \times \frac{100}{120} = 234 \times \frac{5}{6} = 195$
$We calculate the gross profit by finding 20 percent of the cost$	$P = \frac{20}{100} \times 195 \frac{1}{5} \times 195 = 39$	Theory & Tactics Method Card FDPR4-A Click to view full details

Scroll horizontally to view all columns

C