Question

A pet store owner set the price of a bag of cat food at 50% above the cost. When it did not sell, the price was reduced by 20%, to $12.00. What was the original cost?

Answer 1

Answer:

60

Step-by-step explanation:

Answer 2

Answer:

$10.

Step-by-step explanation:

Let x represent the original cost of bag of cat food.

We have been given that a pet store owner set the price of a bag of cat food at 50% above the cost. So the cost of cat food would be x plus 50% of x.

$x+\frac{50}{100}*x\rightarrow x+0.5x=1.5x$

We are further told that the price was reduced by 20%, when it did not sell. So price of cat food after reduction would be $1.5x$ minus 20 percent of $1.5x$.

$1.5x-(\frac{20}{100}\times 1.5x)$

$1.5x-(0.20\times 1.5x)$

$1.5x-(0.3x)$

$1.2x$

Since price after reduction was $12, so we will equate $1.2x$ with 12 as:

$1.2x=12$

$\frac{1.2x}{1.2}=\frac{12}{1.2}$

$x=10$

Therefore, the original cost of cat food was $10.