If the selling price is calculated at a 2% profit, and the cost price is 100, what is the selling price?
Answer: 102
Explanation
Given:
- Cost Price (CP) = 100
- Profit
Formula:
- Selling Price (SP) = CP × (1 + profit/100)
Steps:
1. Profit amount = (2/100) × 100 = 2
2. Selling Price = CP + Profit = 100 + 2 = 102
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