Log out Go to App
Go to App

Learning Materials

Features

Discover

Chapter 11: Problem 1

The original selling price of an item at a store is 40 percent more than the cost of the item to the retailer, If the retailer reduces the price of the item by 15 percent of the original selling price, then the difference between the reduced price and the cost of the item to the retailer is what percent of the cost of the item to the retailer?

Short Answer

Expert verified
The difference between the reduced price and the cost of the item is 19% of the cost of the item for the retailer

Step by step solution

01

Find the original selling price

Let's assume the cost price of the item for the retailer to be \(X\), since we don't have a specific value. The original selling price is 40% more than \(X\), which means it's \(1.40X\) (this is found by adding 100% of the cost price, which is the cost price itself, and the 40% increase).
02

Determine the reduced selling price

The retailer reduces the price by 15% of the original selling price which is 15% of \(1.40X\). So the reduction is \(0.15 * 1.40X = 0.21X\). The reduced price is the original selling price minus the reduction, thus \(1.40X - 0.21X = 1.19X\)
03

Calculate the difference between reduced and cost price

The difference between the reduced price and the cost price is \(1.19X - X = 0.19X\).
04

Express the difference as a percentage of cost price

Now we need to express this difference as percent of the cost price to the retailer, i.e.,\(% = (0.19X / X) * 100 = 19%\)

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Start your free trial

Over 30 million students worldwide already upgrade their learning with Vaia!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

$$x^{2}+8 x=-7$$ Quantity \(\mathbf{A}\) \(x\) Quantity_B 0 a. Quantity A is greater. b. Quantity B is greater. c. The two quantities are equal. d. The relationship cannot be determined from the information given.

Quantity \(\mathbf{A}\) $$\frac{2^{-4}}{4^{-2}}$$ Quantity_B $$\frac{\sqrt{64}}{-2^{3}}$$ a. Quantity A is greater. b. Quantity B is greater. c. The two quantities are equal. d. The relationship cannot be determined from the information given.

If \(3^{3} \times 9^{12}=3^{x},\) what is the value of \(x ?\)

If \(x=3 a\) and \(y=9 b,\) then all of the following are equal to \(2(x+y)\) EXCEPT a. \(3(2 a+6 b)\) b. \(6(a+3 b)\) c. \(24\left(\frac{1}{4} a+\frac{3}{4} b\right)\) d. \(\frac{1}{3}(18 a+54 b)\) e. \(12\left(\frac{1}{2} a+\frac{3}{4} b\right)\)

If \(a\) is multiplied by 3 and the result is 4 less than 6 times \(b,\) what is the value of \(a-2 b ?\) a. -12 b. \(-\frac{4}{3}\) c. \(-\frac{3}{4}\) d. \(\frac{4}{3}\) e. 12
See all solutions

Recommended explanations on English Textbooks

Rhetoric

Read Explanation

Language Acquisition

Read Explanation

Phonology

Read Explanation

Phonetics

Read Explanation

Morphology

Read Explanation

Language Analysis

Read Explanation
View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.

Sign-up for free