Please help me, i have the answer but i need to make sure its correct
2 answers:
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a) Marked price: $884, Cost: $680
b) 2.5 %
Step-by-step explanation:
a)
Let's call:
P = marked price of the oven
C = cost of the oven
We know that:
- The marked price of the oven is 30% above the cost, which means
(1)
- In the sale, the oven is sold at a discount of 25% on its marked price; so the price of the sale is (we call it S)
(2)
- We also know that the discount, which is the difference between the makerd price (P) and the discounted price (S) is
(3)
Substituting (2) into (3) we find marked price
Therefore, the cost of the oven is (from eq(1)):
b)
The percentage loss in this situation is given by the difference between cost of the oven and the final price at which the oven is sold.
In this case, we have:
C = $680 (cost of the oven)
The discounted prices is S, and can be f ound using eq(3):
Therefore, the oven costs 680$ but it is sold at 663$.
Therefore, we can calculate the percentage loss using the equation:
So, a percentage loss of 2.5%.