Question

5. Find the selling Price of an item that originally cost a store $70 was marked up20% and then after no selling for 6 months was discounted 10%?

Answer 1

Answer:

$75.6

Explanation:

If the original cost was $70 and it was marked up 20%, the price after this is calculated as:

$70 + $70(0.2) = $70 + $14 = $84

Where $70(0.2) = $14 is the amount added to the original when it is marked up 20%.

Then, it was discounted 10%, we get that the selling price is

$84 - $84(0.1) = $84 - $8.4 = $75.6

Where $84(0.1) = $8.4 is the discount made on the initial price.

Therefore, the answer is $75.6