A math conundrum

Xalioniaf

Xalioniaf

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Xalioniaf
"A contractor purchases a ventilator for 750 dollars plus 7% tax. How much would he sell this for if he wishes to make a 30% gross profit?"
I think it was a ventilator. I don't think it matters for the question anyway.
My dad's studying for his exam for his license. He and I both got 1043 as the answer, but the answer sheet says it's about 100 dollars more (he has the answer sheet, and he told me not to worry about it, but it's bugging the hell out of me now).
I'm pretty sure we did it right. Multiply 750 by .07, add that to 750 to get 802.5, then multiply 802.5 by .3 and add that to 802.5? So what the hell, man?
 
1146 actually. He stepped out, I snuck a peek :3
 
Trippyhippy said:
I got 1043.25

You have to pay tax on your profit, too. Figure in the profit then the tax.

That would be 975*1.07=1043.25
Click to expand...
All of the answers are rounded out. I got 1043.25 as well, but answer B is 1043.
 
ITT people who don't know what "gross profit" is. To calculate gross profit margin ratio, you take the gross profit and you divide it by cost of sale...

In this situation, the gross profit is the cost of sale (which is the ventilator which we'll represent with x) minus the cost of the product (802.5, which is just 750*1.07). Now, we want a profit ratio of 30%, or .30. Thus your formula looks like....

(x-802.5)/x = .3

Now we solve for x....

x-802.5 = .3x
-802.5 = (.3-1)x
-802.5 = -.7x
x = 1146.43 rounded down to 1146.

You're welcome.
 
I knew there was a way to do it, it's just been so long since I needed to do any type of math, I'll admit I've forgotten a fair bit. At least I can forget about this now, as it was irritating me somewhat.
 
I wasn't really being a dick about it, I was just stating what I saw then explaining in detail what it actually is. If people are offended then that, we might as well just start putting hearts above our i's here.
 
Can I has a heart pls? My avatar hasn't had love in a while.

p.s : you did slightly come off as an errogant dick.... i like errogant dicks.
 
Last edited:
Nyett said:
Can I has a heart pls? My avatar hasn't had love in a while.
Click to expand...

you can't love someone who can't find thier penis.

And that's just how Rappa is. I rated him up for being so detailed in his post and I was one of the ones he was talking about when he said that.
 
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