Question

A particular style of jacket costs the retailer $85 per jacket. At what price should the retailer mark them so he can sell them at a 15% discount off the original price and still make 30% profit on his cost?

Answer 1

Answer:

$130

Step-by-step explanation:

Cost = 85

To make 30% profit, he would need to sell them at:

85 + (0.3)(85) = 110.5

Now, he would need to sell them at 110.5 AFTER giving  a 15% discount. So essentially we are asking, "What number discounted (decreased) by 15% would give us 110.5??"

We can let that price be x and write the equation:

x - (0.15)(x) = 110.5

x - 0.15x = 110.5

0.85x = 110.5

x = 110.5/0.85 = 130

The retailer should mark the jacket at $130