SOLUTION: The cost of a bookcase was $70.00. Overhead associated with the bookcase was $10.00. Markup on the bookcase was 80% of cost. The merchant marked the bookcase down by 25% for a sal

Question 56729: The cost of a bookcase was $70.00. Overhead associated with the bookcase was $10.00. Markup on the bookcase was 80% of cost. The merchant marked the bookcase down by 25% for a sale. If the bookcase sold at this sale price, how did the merchant come out on the bookcase?

Answer by rcmcc(152) (Show Source): You can put this solution on YOUR website!
This is a simple logic question
assuming that the markup was on the total cost ie. (cost+overhead) 80% of $80 is 80x.8=$64, so the total cost will be $144.00
when the store owner marks it down 25% it is worth 144-144x(.25)=$108
so the store owner makes $28 profit.
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