A table is bought for $23.50$, which includes a profit of $17.5 \%$.
- I need to calculate the amount of profit. I tried finding $17.5\%$ of $23.5$, but I don't think that's what's being asked here?
A garden hose is sold for $25.30$ at a profit of $10 \%$.
- I need to calculate what the cost to the shop was. I don't even know where to begin here.
I'm totally confused about percentage lost, percentage gained, especially in word problems. Can someone please help me understand how to approach these sorts of questions?
For you the table is for 23.50 including a $17.5\%$ of profit which means,
$$C+17.5\% \times C=23.50$$
Or, $$C=20$$
So, the shopkeeper or the seller purchased the table in 20 and sold it to you in $23.50$.
Profit: $3.50$
Using the same process solve for the second :)