On a sale, Mr. Cruz bought a pair of pants at 75% it's original price. Then, he sold it to his neighbor at 125% of the price that he bought it. What fraction of it's original price did the neighbor buy the pair of pants?
If the original price was p, then Cruz sold it for
3/4 p * 5/4 = 15/16 p
To determine the fraction of the original price at which Mr. Cruz's neighbor bought the pair of pants, we need to follow a step-by-step process.
Step 1: Calculate the price Mr. Cruz bought the pants for, considering the 75% discount.
To do this, multiply the original price by 0.75 (which represents 75% in decimal form). Let's say the original price is p.
So, the price at which Mr. Cruz bought the pants is 0.75p.
Step 2: Calculate the price at which Mr. Cruz sold the pants to his neighbor, considering a 125% markup.
To do this, multiply the price Mr. Cruz bought the pants for by 1.25 (which represents 125% in decimal form). Let's call this price x.
So, the price at which the neighbor bought the pants is 1.25x.
Step 3: Calculate the fraction of the original price at which the neighbor bought the pants.
To find this fraction, divide the price at which the neighbor bought the pants (1.25x) by the original price (p).
The fraction is (1.25x) / p.
Now, let's substitute the values:
Original price = p
Price bought by Mr. Cruz = 0.75p
Price bought by the neighbor = 1.25(0.75p)
Simplifying the equation:
Price bought by the neighbor = 0.9375p
Finally, we can write down the fraction of the original price at which the neighbor bought the pants: 0.9375p / p.
Simplifying further, we find that the neighbor bought the pair of pants for 0.9375 or 93.75% of its original price.