Video instructions and help with filling out and completing Form 2220 Percentage

Instructions and Help about Form 2220 Percentage

Now there's a show up calls OB sports which buys a t-shirt from a factory for twenty four hundred rupees so cause price of zou bees sports is twenty four hundred rupees and they sell it to the customer for three thousand rupees so the selling price becomes three thousand rupees so we know the cost price we know the selling price we can find the profit so profit would be selling price minus cost price which is 600 rupees similarly we can find the profit percentage also so we define profit percentage as profit upon CP into hundred so this becomes profit we know is 600 rupees cause price we know is twenty four hundred rupees times 100 six forza and 425 so this gives me that profit percentages to any 5% so I get the profit percentage for Joby sports so we get at the profit percentage is 25 percent now so be sports wasn't too happy with this profit percentage they wanted a profit of at least fifty percent so they wanted that the profit percentage is fifty percent but the factory was selling it to any four hundred rupees so what price should be sell it to the customer in order to gain a profit percent of 50 so they want profit percentage of fifty we know the cost price all we need to do is find the selling price now let's come back to the formula of profit percentage and try to see whether we can find the selling price from it so we know profit percentage is profit upon cause price in 200 selling price does not come here anyway in the picture so now I want to introduce selling price into this so what I will do is I know profit is selling price minus cost price so what I will do is I will write profit as selling price minus cos price this is what I get profit percentage is selling price minus cost price divided by cost price in 200 now I can divide both these terms by the cost price which is the denominator so this would give me SP upon CP minus CP upon CP this whole is multiplied by 100 so I get SP upon CP minus 1 CP by CP dividing same numbers gives me 1 times 100 this is what I get profit percentages SP upon CP minus one poll times 100 this is what I get next what I can do is this whole is being multiplied by 100 so I can bring 100 to the other side I can write it as profit percentage divided by 100 is SP up on CP minus one I can say this now if I add one on both the sides the equality would not change so what I will do is I will add one on both the sides if I add one here SP upon CP minus one plus 1 so this becomes SP upon CP only what about this this becomes 1 plus profit percent divided by hundred so this is what I get now I can take the LCM yo hundred as the LCM so if I make the LCM as 100 this would become 100 plus profit percent so 100 by profit person becomes equals to selling price upon cos price so this is what I get that is the ratio of selling price to cause price is 100 plus profit person 200 this is what I get now I have this this is what I found what did I want to find I wanted to find this selling price I knew the cost price I knew the profit percentage and I wanted to find the selling price now I can do that simply what we can do is multiply both by cost price or I can cross multiply cost price here and I would get selling price to be cause price times this entire expression which is 100 plus profit person / 100 so I get this so I get my selling price as cause price times 100 plus profit by hundred so this becomes my selling price so now let's come back to the question so we sports wanted a profit of 50% and the cost price was 2400 and we want to find the selling price of the customer now the selling price would be we know the formula now so I can easily substitute in this I can say that the selling price would be equal to pause price is 2400 100 plus profit percent is 50 100 plus profit percent is 50 100 this is what I get 2,400 times 100 plus 50 by 100 now this is equal to 24 100 times 100 plus 50 gives me 150 by 100 so this becomes you so this becomes 1200 times 3 which is 3600 so I get that the selling price would be 3600 selling price comes out to be 3600 so now I can say that the selling price is 3600 rupees so to get a profit of 50% so be sports should sell the t-shirt which calls them 2400 at a price of 3600 but now what happens that the customers are not ready to pay so much price for this so they were not paying more than 3,000 but zubi sports was determined to get a profit of 50% so now the customers were not paying more than 3000 so this becomes the selling price but zubi sports were determined for a profit of 50% so what they do is they try to negotiate with the factory to decrease the price at which they are buying these t-shirts what should be the cost price now how much should they negotiate with the factory how much should they ask the factory to give them for such that they get a profit of 50% if the selling price is 3000 rupees so what we know is