A dress was marked 60% above cost but was sold at a discount of 5% for cash.Of the dress was sold for R182,40. Calculate the cost price
Let's assume the cost price of the dress is C.
The dress was marked 60% above cost, so the selling price before the discount is 1.60C.
The dress was then sold at a discount of 5%, so the selling price after the discount is 0.95 times the selling price before the discount: 0.95(1.60C) = 1.52C.
We know that the dress was sold for R182,40, so we can set up the following equation:
1.52C = R182,40
To solve for C, we divide both sides of the equation by 1.52:
C = R182,40 / 1.52
C = R120
Therefore, the cost price of the dress is R120.