Answer to Question #271494 in Financial Math for Mary

Question

4. Mr. Contreras knows that his margins in his gasoline station is just 2.6%. If the markup amount per liter of diesel is around php 1.23, how much is the cost per liter of diesel?what is the selling price per liter of diesel?

5. A house and lot with original price of php 2,300,000 was sold at discounted price of php 2,150,000. What was the discount rate given to the buyer?

Answer 1

4) Selling Price $=1.23\div2.6\%=47.31$

 cost per liter of diesel$=47.3-1.23=46.08$

5) Original price $=php 2,300,000$

Selling price $=php 2,150,000$

Discount $= 2,300,000-2,150,000=php 150,000$

The discount rate  is given by the following formula

discount rate $={Discount\over Original price}\times 100\%={php 150,000\over php 2,300,000}\times 100\%=6.5217\%$