SOLUTION: A man loses 50/3 % on cost. how much does this represent on sales

Question 902568: A man loses 50/3 % on cost. how much does this represent on sales
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
rate = percent / 100%.

50/3 percent means a rate of 50/300 which is a rate of 1/6 after you simplify it.

loss = 50/3 percent of cost translates to:

loss = 1/6 * cost

this means that loss / cost = 1/6.

we want to find loss / sales

we know that sales = cost - loss

so loss / sales is equivalent to loss / (cost - loss)

we know that loss is equal to 1/6 * cost, so the equation becomes:

loss / sales = loss / (cost - loss) = loss / (cost - 1/6 * cost) which becomes:

loss / sales = loss / (5/6 * cost)

since loss is equal to 1/6 * cost, we get:

loss / sales = (1/6 * cost) / (5/6 * cost) which becomes:

loss / sales = 1/5 which is equal to 20%.

let's see if this works.

you take a loss of 50/3 percent of cost.

let's assume your cost is 1200 dollars.

you take a loss of 50/3 percent of the cost which is a loss of 200 dollars.

200 / 1200 = 1/6 which is equal to 100/6 percent which is equal to 50/3 percent so the numbers check out.

so you took a loss of 200 dollars and your cost was 1200 dollars which means you sold for 1000 dollars.

the percent loss on sales is therefore 200 / 1000 = .2 which is equal to 20%.

i believe that's the figure we calculated above so the formula is good.

your solution is:

a loss of 50/3 percent on cost is equivalent to a loss of 20% on sales.

RELATED QUESTIONS
How much would sales tax be on a item that cost $138.00, how much would this item cost... (answered by Alan3354)

A MAN SOLD A DAMAGED BED FOR $130.50, SO HE LOSES 13% ON THE COST PRICE. DETERMINE THE... (answered by )

A stereo costs $400, but it's on sale at 20% off with a 6% sales tax on the total price.... (answered by rfer)

There is a sales tax of $6 on an item that costs $64 before tax. The sales tax on a... (answered by Theo)

A person has $15.00 to play games and loses $.50 each game. How much money is left after (answered by troyapplehelen,mbarugel)

If a clock loses 2 minutes every 15 hours how much times does it lose after 2 hours?... (answered by stanbon)

sales tax of $16.00 on an item that costs 205 before tax,2nd item sales tax is $9.60,how... (answered by richwmiller)

The mathematical model Cx=200x+10,000 represents the cost in dollars a company incurs... (answered by josmiceli)

If a salesman earns 8 1/2% commission on all sales above $500,how much commission does he (answered by josmiceli)