the owner of a store buys goods at 35% off the list price. she marks them so that after giving a discount of 20%, she will still make a profit of 10% of the marked price. She makes $13 on the sale of each item. what is the list price?
please give a thorough explanation for this problem.
thank you in advance! :)
please give a thorough explanation for this problem.
thank you in advance! :)
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13 is 10% of the marked price so 13/m = 10/100
10m = 1300
m = 130.
This is 80% of what she buys them for, since its been reduced by 20%. So
80/100 = 130/b
80b = 13000
b = 162.50 which is 65% of the list price since it was 35% off. So
162.50 / L = 65/100
65L = 16250
L = $250
10m = 1300
m = 130.
This is 80% of what she buys them for, since its been reduced by 20%. So
80/100 = 130/b
80b = 13000
b = 162.50 which is 65% of the list price since it was 35% off. So
162.50 / L = 65/100
65L = 16250
L = $250
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Let the list price = x
Let the marked price = y
0.80(y) - 0.65(x) = 0.1(y)
We know that since she makes $13 on the sale of each item, 0.10(y) = 13, then:
13(8) - 0.65(x) = 13
x = $140
Let the marked price = y
0.80(y) - 0.65(x) = 0.1(y)
We know that since she makes $13 on the sale of each item, 0.10(y) = 13, then:
13(8) - 0.65(x) = 13
x = $140
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Let x=list price
She buys it for 0.65 x
I will put it all in one equation
Profit=0.1[0.65x-(0.2)(0.65x)]
13=0.1[0.65x -0.13x]
13=0.1(0.52x)
13=0.052x
x=13/0.052
x=$250 the list price
She buys it for 0.65 x
I will put it all in one equation
Profit=0.1[0.65x-(0.2)(0.65x)]
13=0.1[0.65x -0.13x]
13=0.1(0.52x)
13=0.052x
x=13/0.052
x=$250 the list price
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Is it $130 , cause 13 dollars is the 10 percent profit , so 100 percent is 130 dollars