What is the slope-intercept equation for the line below? (0,2) (5,4)
2 answers:
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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)
We know that the price of all the fabrics is the same. However, the length of the fabrics is different. We have to determine which fabric is the longest.
Option A: = 8.6
Option B: = 8.25
Option C: = 8.6667
Option D: = 7.33....
Hence, the longest fabric is the one given in option C, and its length is 8.6667