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During a sale, a retailer allows a discount of 25% off the marked price. His sale price of $360 still gives him a profit of 12%.Question 1Workboarda. The marked price = $

Question

During a sale, a retailer allows a discount of 25% off the marked price. His sale price of 360stillgiveshimaprofitof12360 still gives him a profit of 12%.Question 1Workboarda. The marked price =

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Solution

To find the marked price, we first need to determine the cost price for the retailer. Given that the sale price of $360 includes a profit of 12%, we can express the cost price as 100% and the sale price as 112% of the cost price.

Step 1: Find the cost price Let's denote the cost price as X. So, 112% of X = 360Or,1.12X=360 Or, 1.12X = 360 Therefore, X (Cost price) = 360/1.12=360 / 1.12 = 321.43 approximately.

Step 2: Find the marked price The retailer allows a discount of 25% off the marked price. So, the sale price is 75% of the marked price. Let's denote the marked price as Y. So, 75% of Y = Cost price Or, 0.75Y = 321.43Therefore,Y(Markedprice)=321.43 Therefore, Y (Marked price) = 321.43 / 0.75 = $428.57 approximately.

So, the marked price is approximately $428.57.

This problem has been solved

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