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Math

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A merchant buys cloth at $1.60 per yard. At what price per yard should he list the cloth so that he may sell it at a discount of 20% from the list price and still make a profit of 20% of the SALE PRICE?

  • Math - ,

    If she makes 20% off the sale price, then 80% of the sale price is his cost.
    So first find the sale price, s:
    80% : $1.60
    100% : s

    Use cross multiplication to solve for s:
    s=100*$1.60/80=$2.00

    Since the sale price was after 20% discount, so again it is 80% of the list price. To calculate the list price L, we use proportions and cross multiplications:
    80% : $2.00
    100 : L
    L=$2.00*100/80=$2.50

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