A store originally purchased a wheelbarrow at a cost of $40 and marked it up 25%. After a few weeks, however, the store discounted the wheelbarrow 80% in order to make room for new merchandise. What was the discounted price?
To find the discounted price of the wheelbarrow, we need to follow these steps:
1. Find the original price:
The store purchased the wheelbarrow for $40.
2. Calculate the markup price:
The store marked up the price by 25%.
Markup = Original price * Markup percentage
= $40 * 25/100
= $10
Therefore, the marked up price is $40 + $10 = $50.
3. Calculate the discounted price:
The store discounted the wheelbarrow by 80%.
Discounted amount = Marked up price * Discount percentage
= $50 * 80/100
= $40
Therefore, the discounted price of the wheelbarrow is $50 - $40 = $10.
So, the discounted price of the wheelbarrow is $10.
$40 + 0.25*40 = 40 + 10 = $50 initial selling price.
Then $50 - 0.80*50 = 50 - 40 = $10 is sale price.