Answer:
10.5 %
<u>Skills needed: Financial Math Essentials</u>
Step-by-step explanation:
1) First, before getting started, let's assume the price of the product is 
. This variable will be used a lot throughout the problem ().
2) Marking a price above means increasing the price in order to make money off of the purchased product. When raising something by 
percent, the new price would be 
.
---> In this case, the price increased by 
percent.
This means that it would be: 
New price is: 
3) The shopkeeper is then offering a 
percent discount off of this marked price. When offering a 
percent discount price, the new price (with discount), expressed algebraically is: 
---> the expression above simplifies to 
In this case, 
, 
---> 
This means that , with discount, has been raised 
.
10.5 % is the profit percent
(The profit percent being the final marked up price - purchased price)
10.20*8= 81.60
10.20*.5= 5.10
add
81.60+5.10= 86.70
ANSWER: Peter pays $86.70 for the carpet
P = 4x + 2y
additional info.
<span>x+2y <u><</u> 10
y <u><</u> 2
x <u>></u> 0
y <u>></u> 0
y can only be 0, 1, and 2.
x + 2(0) <u><</u> 10 = x <u><</u> 10
x + 2(1) <u><</u> 10 = x + 3 <u><</u> 10 = x <u><</u> 10 - 3 = x <u><</u> 7
x + 2(2) <u><</u> 10 = x + 4 <u><</u> 10 = x < 10 - 4 = x <u><</u> 6
x = 10 ; y = 0 : P = 4(10) + 2(0) = 40 + 0 = 40
x = 7 ; y = 1 : P = 4(7) + 2(1) = 28 + 2 = 30
x = 6 ; y = 2 : P = 4(6) + 2(2) = 24 + 4 = 28
The maximum value of P is 40. Where x is 10 and y is 0.</span>
