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A merchant sells an item at a 20% discount, but still makes

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Manager
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Joined: 05 Sep 2007
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A merchant sells an item at a 20% discount, but still makes [#permalink] New post 21 Oct 2007, 12:59
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A merchant sells an item at a 20% discount, but still makes a gross profit 20%of the cost. Wht % of the cost would the gross profit on the item have been if it had been sold without the discount?
Director
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Re: Percent [#permalink] New post 21 Oct 2007, 13:15
el1981 wrote:
A merchant sells an item at a 20% discount, but still makes a gross profit 20%of the cost. Wht % of the cost would the gross profit on the item have been if it had been sold without the discount?


so i would approach it this way:

starting point, jot down what you know by using abstract easy numbers (all we want is the %):
selling price: $100
discount price sold: $80
80 = 1.2 of cost price (since gross profit = 20%)

x = cost price
80 = 1.2x
x = $66.67

if merchant sold it w/o discount would have been $100 instead of $80
so new gross profit = 100- 66.67 = 33.33 / 66.67 = 50%
Re: Percent   [#permalink] 21 Oct 2007, 13:15
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A merchant sells an item at a 20% discount, but still makes

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