A store usuall sells a certain item at 40%profit. One week the store has a sale, during which the item is sold for 10% less than the usual price. During the sale, what is the percent profit of the sotre makes on each of these items.
A. 4%
b. 14%
C. 26%
D. 30%
E. 36%
the store buys the items for some cost (c), and then marks up the selling price to 140% of c (cost plus profit)
the 10% price reduction means that the sale price is 126% of c (140 - 14)
the cost (c) doesn't change, so the profit is reduced to 26% (126 - 100)
30
To find the percent profit the store makes during the sale, we need to calculate the sale price and subtract the cost price from it, then divide the result by the cost price and multiply by 100 to get the percentage.
Let's assume the cost price of the item is $100.
Normally, the store sells the item at a 40% profit, so the selling price would be $100 + $40 = $140.
During the sale, the item is sold for 10% less than the usual price, so the sale price would be 90% of $140.
Sale price = 90% of $140
= (90/100) * $140
= $126.
To calculate the profit percentage during the sale, we subtract the cost price from the sale price:
Profit = $126 - $100 = $26.
Now, we divide the profit by the cost price and multiply by 100 to get the percentage profit:
Percentage profit = (Profit / Cost Price) * 100
= ($26 / $100) * 100
= 26%.
Therefore, the store makes a 26% profit on each item during the sale.
The correct answer is C. 26%.
To find the percent profit during the sale, we first need to determine the selling price of the item during the sale.
Let's say the usual selling price of the item is $100. Since the store usually sells the item at a 40% profit, the cost price of the item would be 100% - 40% = 60% of the selling price, which is 0.6 * $100 = $60.
During the sale, the item is sold for 10% less than the usual price, so the selling price during the sale would be 90% of the usual selling price. 90% of $100 is 0.9 * $100 = $90.
Now, to find the profit during the sale, we need to calculate the difference between the selling price during the sale and the cost price. The profit is then expressed as a percentage of the cost price.
Profit = Selling price during the sale - Cost price
Profit = $90 - $60 = $30
To find the percentage profit, divide the profit by the cost price and multiply by 100.
Percentage profit = (Profit / Cost price) * 100
Percentage profit = ($30 / $60) * 100
Percentage profit = 50%
Therefore, the store makes a 50% profit on each of these items during the sale. However, none of the given options match 50%. Thus, none of the options A, B, C, D, or E are correct.