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
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 = 360 Therefore, X (Cost price) = 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 = 321.43 / 0.75 = $428.57 approximately.
So, the marked price is approximately $428.57.
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