The selling price of a television set is $360 the profit is 20% of the cost find the cost of the television set

Selling price = cost + (20%) (cost)

360=1.20*cost

cost=360/1.20=$300

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To find the cost you need to first find the profit of the television set. To do so take $360 x 0.20. This equals 72, which is the profit portion of the cost. You then want to take 360 - 72. This equals 288, which is the actual cost of the television set.