document.write( "Question 1099315: A storekeeper buys an article for $120. He wishes to make a profit of $30 when he sells it and he knows that the sale is subject to a sale of tax of 20%. For how much does the storekeeper need to sell the article to a customer? \r
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document.write( "(Is the sale tax is 20% of the article and profit? Or is it just the cost of the article?) \n" );
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Algebra.Com's Answer #713753 by Theo(13342) You can put this solution on YOUR website! the profit is included in the sale price.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "the tax is not included in the sale price.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "the bill to the customer is equal to the sale price plus the tax on the sale price.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "his cost is 120.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "his profit is 30.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "the sale price is 120 + 30 = 150\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "the tax on the sale price is 20% of 150 = 30\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "the bill to the customer is 150 + 30 = 180.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "customer pays 180. \n" ); document.write( "vendor sets aside 30 of that for the tax. \n" ); document.write( "vendor keeps 150. \n" ); document.write( "cost to the vendor was 120. \n" ); document.write( "profit to the vendor is 30.\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |