A particular style of shoes costs the dealer $97 per pair. At what price should the dealer mark them so he can sell them at a 10% discount off the selling price and still make a 30%profit?
let selling price be x
.9x = 1.3(97)
x = 126.1/.9 = 140.11
check
marked selling price = 140.11
actual selling price = .9(140.11) = 126.10
profit = 126.10-97 = 29.10
percentage of profit based on cost price
= 29.10/97 = .29998969
= 30%
i wanted to ask where did u get .9x from and 1.3 from
A 10% discount means to take away 10% , leaving 90% or .9
a 30 % profit is 100% + 30% = 130% = 1.3
To solve this problem, we need to determine the selling price at which the dealer can offer a 10% discount and still make a 30% profit.
Let's break down the problem step by step:
1. First, find the cost price of the shoes, which is given as $97 per pair.
2. Next, determine the desired profit percentage. In this case, the dealer wants to make a 30% profit.
3. Calculate the profit amount by multiplying the cost price by the desired profit percentage: Profit = 97 * 30% = $29.10
4. Determine the selling price by adding the cost price and the profit amount: Selling price = Cost price + Profit amount = $97 + $29.10 = $126.10
5. Calculate the discount amount by multiplying the selling price by the discount percentage: Discount amount = Selling price * 10% = $126.10 * 10% = $12.61
6. Subtract the discount amount from the selling price to find the marked price: Marked price = Selling price - Discount amount = $126.10 - $12.61 = $113.49
Therefore, the dealer should mark the shoes at $113.49 per pair to sell them at a 10% discount and still make a 30% profit.