SOLUTION: you purcashed on pound of candy for $7. at what price do you need to mark the candy forr salein your candy shop, if you wish to offera 48% discount to your customers, but you need

Question 67982This question is from textbook
: you purcashed on pound of candy for $7. at what price do you need to mark the candy forr salein your candy shop, if you wish to offera 48% discount to your customers, but you need to earn a 56% profit on the original cost? This question is from textbook

Answer by ptaylor(2198) (Show Source): You can put this solution on YOUR website!

Let $x=price the candy is marked for sale in the candy shop
Then $x-0.48($x)=48% discount cost to customers
$7+0.56($7)= 56% profit on original cost

Now the discounted cost must equal the original cost plus the 56% profit.
So, our equation to solve is:
x-0.48x=7+0.56(7)
0.52x=7+3.92
0.52x=10.92
x=$21 ----------------price candy is marked for sale
ck
21-.48(21)=10.92------------ 48% discounted cost
$7+.56(7)=10.92 --------56% profit on original cost
Hope this helps------ptaylor
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