Question

A wholesaler sold a radio to a retailer making a profit of 20%. The retailer later sold the radio for Ksh 1560 making a profit of 30%. Calculate the amount of money the wholesaler had paid for the radio.

Answer 1

wholesaler cost = w
retailer cost = 1.20w
retail price = 1.20w*1.30 = 1.56w
so, 1.56w = 1560
...

Answer 2

1444