Question

PLEASE SOLVE THIS :(​

Answer 1

Answer:

10.5 %

Skills needed: Financial Math Essentials

Step-by-step explanation:

1) First, before getting started, let's assume the price of the product is $x$. This variable will be used a lot throughout the problem ($x$).

2) Marking a price above means increasing the price in order to make money off of the purchased product. When raising something by $y$ percent, the new price would be $x + \frac{y}{100}*x$.

---> In this case, the price increased by $\textbf{30}$ percent.

This means that it would be: $x+\frac{30}{100}x = x+0.3x=1.3x$

New price is: $1.3x$

3) The shopkeeper is then offering a $\textbf{15}$ percent discount off of this marked price. When offering a $b$ percent discount price, the new price (with discount), expressed algebraically is: $a-\frac{b}{100}a$

---> the expression above simplifies to $(1-\frac{b}{100})a$

In this case, $a=1.3x$, $b=15$

---> $(1-\frac{15}{100})*1.3x = (1-0.15)*1.3x=0.85*1.3x=1.105x$

This means that $x$, with discount, has been raised $\textbf{10.5 percent}$.

10.5 % is the profit percent

(The profit percent being the final marked up price - purchased price)