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What is the cost price of a toy marked at 280 being sold at a discount of 15 percent when the profit made in this sale 13 and a third percent?
Wiki User
∙ 7y ago
A 15% discount means the amount paid is 100% - 15% = 85 % of the full price
→ sales price = 85/100 * 280 = 238.
Now the cost price depends upon what you (or rather your question setter) means:
- If the profit is the mark-up (on cost):
→ cost_price = sales_price ÷ (1 + mark_up/100%)
→ cost_price = 238 ÷ (1 + 13 1/3% / 100%)
→ cost_price = 238 ÷ (34/30)
→ cost_price = 238 × 30/34 = 210
- If the profit is the profit margin (on sales)
→ cost_price = sales_price × (1 - profit_margin/100%)
→ cost_price = 238 × (1 - 13 1/3% / 100%)
→ cost_print = 238 × 26/30
→ cost_price = 206 4/15 = 206.26 2/3 ≈ 206.27
Based on the roundness of the answer, your question setter probably meant the first (though the second is what most businessmen would understand by profit).
Wiki User
∙ 7y ago
Wiki User
∙ 7y agoIt is 210.
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