Find the cost price if the selling price is $1800 and profit is $10%

Answer:$1636.4

Step-by-step explanation:

Selling price (sp) = $1800

Profit%=10%

Cost price (cp) = ?

Profit% = (sp-cp) / cp x 100

10 = (1800-cp) / cp x 100

Cross product

10cp=100 (1800-cp)

Open brackets

10cp=180000-100cp

Collect like terms

10cp+100cp=180000

110cp=180000

Divide both sides by 110

110cp/110 = 180000/110

cp=1636.4

Cost price is $1636.4

Answer: Cost Price = $1, 636.36

Step-by-step explanation:

Given from the question Selling price (SP) = $1800; Profit% = 10% = 10/100 = 0.1

Cost price (CP) = ?

Profit% is derived by the formula

= (SP-CP) / CP x 100

0.1 = (1800 - CP) / CP x 100

Then we cross multiply

0.1 x 100 x CP = 1800 - CP

10 CP = 100 (1800 - CP)

Open the bracket

10 CP=180000 - 100CP

Divide both sides by 10

CP = 180000 - 100CP/10

CP = 18000 - 10CP

Combine like terms

CP + 10CP = 18000

11CP = 18000

Divide both sides by 11

CP = 18000/11

CP = $1, 636.36