Auntie Lim bought a blender for $85 and sold it at a 20% profit. She used all the money she received from the sale to buy a rice cooker and had $7 left over. What was the price of the rice cooker?
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Worked Solution
Step 1: Find the selling price of the blender (20% profit on $85).
Profit = 20% × $85 = 0.20 × $85 = $17
Selling price = $85 + $17 = $102
Step 2: Find the price of the rice cooker.
Auntie Lim had $7 left after buying the rice cooker.
Price of rice cooker = $102 − $7 = $95
Verification: $95 + $7 = $102 = selling price ✓
Answer: $95
Answer: $95
Correct answer: $95
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