A store’s cost for a stereo was $27. Th e markup was 75%. A customer
purchased it on sale at 40% off the marked up price. What was the purchase
price of the stereo?
Please help!
markup price=27*1.75
customer purchased = 27*1.75*.60
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To find the purchase price of the stereo, we need to follow these steps:
Step 1: Calculate the selling price after markup.
The markup percentage is 75%.
So, the selling price after markup can be calculated by adding the markup percentage to the cost price:
Markup Amount = (Markup Percentage/100) * Cost Price
Markup Amount = (75/100) * $27
Step 2: Calculate the selling price before discount.
Selling price before discount = Cost Price + Markup Amount
Step 3: Calculate the sale price after discount.
The stereo was on sale at 40% off the selling price before the discount.
Sale Price = Selling Price before discount - (Discount percentage/100) * Selling Price before discount
Now, let's calculate the purchase price of the stereo.
Step 1:
Markup Amount = (75/100) * $27
Markup Amount = $20.25
Step 2:
Selling price before discount = $27 + $20.25
Selling price before discount = $47.25
Step 3:
Sale Price = $47.25 - (40/100) * $47.25
Sale Price = $47.25 - $18.90
Sale Price = $28.35
Therefore, the purchase price of the stereo was $28.35.
To find the purchase price of the stereo, we need to follow a sequence of calculations.
First, let's calculate the selling price after the markup. The markup amount can be calculated by multiplying the cost by the markup percentage:
Markup amount = Cost × Markup percentage/100
= $27 × 75/100
= $20.25
Next, we need to calculate the marked up price, which is the cost plus the markup amount:
Marked up price = Cost + Markup amount
= $27 + $20.25
= $47.25
Now, we need to calculate the sale price after the customer received a 40% discount. The discount amount can be calculated by multiplying the marked up price by the discount percentage:
Discount amount = Marked up price × Discount percentage/100
= $47.25 × 40/100
= $18.90
Finally, we can calculate the purchase price by subtracting the discount amount from the marked up price:
Purchase price = Marked up price - Discount amount
= $47.25 - $18.90
= $28.35
Therefore, the purchase price of the stereo was $28.35.