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Pallavi Buragohain

19 days ago

A trader sells widgets at a $120 each, which is 20% more than they cost from wholesales. How much is his gross profit?

A trader sells widgets at a $120 each, which is 20% more than they cost from wholesales. How much gross profit does the retailer earn after selling 8 widgets

A. $140

B. $148

C. $160

D. $172

E. $176

Can anyone help me on this one? #examsprep

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Vijaya Lakshmi K Mentor_tag

18 days ago

Hello Pallavi, The answer is option C. First figure out what the retailer pays for a widget. Call this price x. We're told that 120 is twenty percent more that what the retailer paid for a widget. That is, 120 is equal to x plus twenty percent of x. Since twenty percent of x is 0.2x, this gives us the equation 120=x+0.2x => 120=1.2x Solving this equation gives x=100 dollars. So, the retailer pay... See more