Answer:
$2795.52
Step-by-step explanation:
First, by telling us that Ron is losing a percentage of the money he's selling a camera for, it means that we're looking for the original price Ron bought it for. So, we will use the following formula:
original cost = new cost + (new cost × percentage lost)
original cost = ($2400) + ($2400 × 0.04) = ($2400) + ($96) = $2496
Now, we can use the original cost to find a new cost at which Ron will gain 12% of the original cost by using the following formula:
new cost = original cost + (original cost × percentage gained)
new cost = ($2496) + ($2496 × 0.12) = ($2496) + ($299.52) = $2795.52
So, our answer is $2795.52!
