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)
For this case we have the following number written in scientific notation:
We know that this number is greater than zero because it is a positive number.
Therefore, the following statements are true:
p ∈ (-∞, ∞)
n must be between 1 and 10
n ∈ [1, 10]
Answer:
The following statements are correct about the number written in scientific notation:
p ∈ (-∞, ∞)
n ∈ [1, 10]