# Math

A merchant buys cloth at \$1.60 per yard. At what price per yard should he list the cloth so that he may sell it at a discount of 20% from the list price and still make a profit of 20% of the SALE PRICE?

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1. If she makes 20% off the sale price, then 80% of the sale price is his cost.
So first find the sale price, s:
80% : \$1.60
100% : s

Use cross multiplication to solve for s:
s=100*\$1.60/80=\$2.00

Since the sale price was after 20% discount, so again it is 80% of the list price. To calculate the list price L, we use proportions and cross multiplications:
80% : \$2.00
100 : L
L=\$2.00*100/80=\$2.50

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posted by MathMate

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