SOLUTION: A retailer buys a batch of 50 items of a product for 10 000 �. He then sets a price so that the selling price is 80 % higher than the buying price. When there is 40 % left of the

Question 417549: A retailer buys a batch of 50 items of a product for 10 000 �. He then sets a price so that the
selling price is 80 % higher than the buying price. When there is 40 % left of the batch, the
retailer lowers the price and manages to sell off the rest for a reduced selling price of
171 �/item.
a) Calculate the discount percentage relative to the initial selling price.
b) Calculate the profit percentage for the whole batch.
Give your answers with an accuracy of one decimal.
.
.
I TRIED IT THIS WAY
Let's resume what he did.
he bought 50 items for 10000� means 1 item for 200�
when he set the selling price, it was 200*1.80 = 360� for one item.
60% out of 50 items were sold by 360�/item...that gives us 360*30items = 10800�.
40% that is 20 items were sold by 171�*20 = 3420�.
a)
the discount percentage relative to the initial selling price: is the discount from 200�/item to 171�/item
200�-----------100%
171�-----------x%
x% = 85.5%
The discount is 100%-85.5%= 14.5%
b)
10800�+3420� = 14220� for the whole batch
that's:
10000�-------100%
14220�-------y%
y% = 142.2%
the profit percentage for the whole batch is 42.2% ?
Answer by MathLover1(20850) (Show Source): You can put this solution on YOUR website!

you are correct............

For the profit percentage, the initial cost is 10,000�,
that's 200� each , so an 80% increase would be 360� each.
He sells 40%, or 30 items at 360� = 10,800�
He sells 60%, or 20 items at 171� = 3,420� total = 14,220�
So the profit percent would be 14,220 - 10,000 = 4220/10,000=0.422
or 42.2%
RELATED QUESTIONS
A particular style of pants cost the retailer $80 per pair. At what price should the... (answered by TimothyLamb)

A particular style of sunglasses costs the retailer $80 per pair. At what price should... (answered by josmiceli)

A particular style of sunglasses costs the retailer $80 per pair. At what price should... (answered by stanbon,Theo)

Question 1109914: 1. The Cellphone Company buys iPhones at PhP24,000. Expenses are set at (answered by CPhill)

a retailer wants a 70% markup on the selling price of an item that costs him $50. write... (answered by solver91311)

a particular style of jacket costs the retailer $75 per jacket. At what price should the... (answered by Reidandrew)

A particular style of sunglasses costs the retailer $70 per pair. At what price should (answered by Theo)

To Whomever can assist, thank you! If a box of candy costs a retailer $2.50, and he... (answered by checkley71)

If a box of candy costs a retailer $2.50 and he wants to make a profit of 50% based on... (answered by checkley75)