A trader buys pens at $44 a dozen and sells them at $20 each. Find his profit if he sells 60 pens.
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Answer:
$46
Step-by-step explanation:
A percent is a portion of 100. If we receive 25% off then we pay 75% of the price. 100%-25%=75%. $34.50 is 75% of the original price. We find the new price through a proportion. A proportion is an equation where two ratios or fractions are equal. The ratios or fractions compare like quantities. For example, we will compare percent over percent to an equal ratio of $ to $.
I can now cross-multiply by multiplying numerator and denominator from each ratio.
I now solve for y by dividing by 75.
The original price was $46.