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A person sold a horse for rs 120 more than its cost and made a profit equal to 2 7 of its cost find the cost of the horse?
Let the cost of the horse be x. The person sold the horse for x + 120 and made a profit of 2/7x. According to the question, the profit made is equal to 2/7 of the cost, so we have the equation (x + 120) - x = 2/7x. Simplifying this equation, we get 120 = 2/7x. Multiplying both sides by 7/2, we find x = 420. Therefore, the cost of the horse is Rs. 420.
What else can I help you with?
If the profit made by the pen for Rs 10 is as much as its cost what is the cost price of pen?
If the profit made by the pen for Rs 10 is equal to its cost, then the profit is equal to the cost. Let's denote the cost price of the pen as x. Therefore, the profit made would also be x. According to the given condition, x = 10. So, the cost price of the pen is Rs 10.
How do you increase gross profit when sales increase but gross profit does not?
Your mariginal revenue must equal your marginal cost.
The level of profit maximizing output is reached when marginal cost is?
equal to marginal revenue
Why the increase or decrease in cash is different to the profit or loss?
Cash does not equal profit. For example, a depreciation charge is a cost to the business, but no actual cash is expensed.
How would you define cost-volume-profit analysis?
Cost-volume-profit analysis (CVP), or break-even analysis, is used to compute the volume level at which total revenues are equal to total costs.
How do you get a retail price if you have the gross profit percent and cost?
Add the profit margin (cost*profit%) to the cost. Add the profit margin (cost*profit%) to the cost. Add the profit margin (cost*profit%) to the cost. Add the profit margin (cost*profit%) to the cost.
What does profit maximizing quantity of output mean?
Its the level of production where marginal cost is equal to marginal revenue.
Sell price is 2602.58 cost price is 2090.42 what is the profit?
The basic formulas for profit are represented as follows: Profit = Price - Cost % Profit = Profit / Cost So, if an item sold for 2,602.58 and cost 2,090.42, the profit (absolute) is : Profit = 2,602.58 - 2,090.42 = 512.16 The % profit (relative to the cost) is: % Profit = 512.16 / 2,090.42 = 24.5%
The equality of marginal revenue and marginal cost is essential for profit maximization in all market structures because if?
Marginal revenue and marginal cost are equal, any other output level will result in reduced profit.
Describe tht Methods for measuring profit?
The elementary business and economic formula for deriving profit requires the variables of sales and cost to be known. Profit will equal net sales minus total costs.
Why is the equality of marginal revenue to marginal cost essential to profit maximuzation in all of the market structures?
When Marginal Cost is below Marginal Revenue, profit is increasing. When Marginal Cost is above Marginal Revenue, profit is decreasing. Since the goal of firms is to maximise profit, they should produce at a level where the MR of producing another unit is equal to the Marginal Cost of producing another unit. Firms should keep producing until this point because there is a hidden profit in MC. This is because we are not taking into account the Accounting profit.
How do you calculate Selling Price if you know Cost price and Profit percentage?
profit can be calculated from profit percentage and cost price.profit percentage=profit*100/cost price.profit=selling price-cost price
