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At Harry's Discount Hardware everything is sold for 20% less than the price marked. If Harry buys tool kits for $80, what price should he mark them if he wants to make a 20% profit on his cost?

  • Math -

    0.8x = 80
    x = 80/0.8
    x = 100 >> selling price

    0.8x = 100
    x = 100/0.8
    x = 125 >> marked price

  • Math -

    Ok, another solution for this problem:

    20% of $80=16
    so, the selling price=80+16=$96
    Let, by the mark price of 20% profit=x
    so, x-(20% of x)=96
    or, x-x/5=96
    or, x= (96*5)/4
    or, x=$120 (Ans)

  • Math -

    the selling price is 80% of the marked price (m.p.)
    moving on to the latter part of the question which states that 20% on $80 tools is Harry's profit. Making a profit of $16.So the selling price results to $96. Therefore,80% of m.p.=96.00 Solving this equation gives you m.p.=$120, which is your final answer

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