Ask Question
7 April, 00:55

After a store marks up the wholesale price of an item by 75%, the retail price of the item is $350. A month later, the store puts the item on sale for 20% off the retail price. Two weeks later, the store offers 30% off the sale price. What is the final price of the item? Is the store making a profit on the item?

+5
Answers (2)
  1. 7 April, 01:26
    0
    Let the wholesale price of the item = $x

    Retail price = $350

    x + (75/100) * x=350

    x + (3/4) x=350

    (4x+3x) / 4=350

    (7/4) x=350

    x=350 * (4/7)

    x=50*4=$200

    20% off on retail price = 350 - (20/100) * 350

    =350-70

    Sale price = $280

    30% off on sale price = 280 - (30/100) * 280

    =280-84

    Final price = $196 and wholesale price = $200

    Since the final price is less than the wholesale price, the store is not making a profit. It is a loss.
  2. 7 April, 04:51
    0
    Given the markup of 75%, the selling price of the item became:

    Cost * (1+Markup) = selling price

    the initial price of the house will therefore be:

    C * (1+0.75) = 350

    1.75C=350

    C=350/1.75

    C=$200

    therefore the initial selling price was $200. Given that after the markup price was later reduced by 20%, the new price became:

    80/100*350

    =$280

    If the price was later reduced by 30% the new price was:

    70/100*280

    =$196

    From this final price we see that if the original price was $200 and the selling price is now $196, then the item is actually selling at lose.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “After a store marks up the wholesale price of an item by 75%, the retail price of the item is $350. A month later, the store puts the item ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers