If a store sold a toy set at $80, it would make a profit of $2700. If each toy set is sold at $40 instead, the shop will make a loss of $900. How many toy sets are there? What is the cost price of each toy sets?

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If a store sold a toy set at $80, it would make a profit of $2700. If each toy set is sold at  $40 instead, the shop will make a loss of $900. How many toy sets are there? What is the cost price of each toy sets?

Bytelearn · Accepted Answer

Define Variables: Let's denote the number of toy sets as 'n' and the cost price of each toy set as 'CP'. When the store sells each toy set at $80, it makes a profit of $2700. The profit can be calculated by the formula: Profit = Selling Price (SP) - Cost Price (CP). So, we have the equation: n * $80 - n * CP = $2700Calculate Profit Equation: Now, when the store sells each toy set at $40, it incurs a loss of $900. The loss can be calculated by the formula: Loss = Cost Price (CP) - Selling Price (SP). So, we have the equation: n * CP - n * $40 = $900Calculate Loss Equation: We have two equations now: 1) n * $80 - n * CP = $2700 2) n * CP - n * $40 = $900 Let's simplify both equations by factoring out 'n': 1) $80n - CPn = $2700 2) CPn - $40n = $900Simplify Equations: We can add these two equations to eliminate 'CPn': ($80n - CPn) + (CPn - $40n) = $2700 + $900 This simplifies to: $80n - $40n = $3600Eliminate CPn: Now, we solve for 'n': $40n = $3600 n = $3600 / $40 n = 90 So, there are 90 toy sets.Solve for n: Now that we know 'n', we can substitute it back into either equation to find 'CP'. Let's use the first equation: $80n - CPn = $2700 $80 * 90 - CP * 90 = $2700 7200 - 90CP = $2700Substitute n into Equation: Now, we solve for 'CP': 7200 - 2700 = 90CP 4500 = 90CP CP = 4500 / 90 CP = $50 So, the cost price of each toy set is $50.

If a store sold a toy set at $\$ 80$ , it would make a profit of $\$ 2700$ . If each toy set is sold at $\$ 40$ instead, the shop will make a loss of $\$ 900$ . How many toy sets are there? What is the cost price of each toy sets?

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If a store sold a toy set at $80 \$ 80 $80, it would make a profit of $2700 \$ 2700 $2700. If each toy set is sold at $40 \$ 40 $40 instead, the shop will make a loss of $900 \$ 900 $900. How many toy sets are there? What is the cost price of each toy sets?

If a store sold a toy set at $\$ 80$ , it would make a profit of $\$ 2700$ . If each toy set is sold at $\$ 40$ instead, the shop will make a loss of $\$ 900$ . How many toy sets are there? What is the cost price of each toy sets?