SOLUTION: a store purchased a certain style of leather jacket at $70 per jacket. if the store wants to sell the jacket at 20% discount and still make a profit of 30%, what should be the mar

Algebra ->  Equations -> SOLUTION: a store purchased a certain style of leather jacket at $70 per jacket. if the store wants to sell the jacket at 20% discount and still make a profit of 30%, what should be the mar      Log On


   

Question 975448: a store purchased a certain style of leather jacket at $70 per jacket. if the store wants to sell the jacket at 20% discount and still make a profit of 30%, what should be the marked selling price for each jacket?
Answer by josgarithmetic(39617) About Me  (Show Source):
You can put this solution on YOUR website!
30% profit on 70 dollars means 70+(0.3)(70)=91 dollars to be the selling price.

Wanted: Marked price if 91 dollars is 20% off from the marked price.

Let p be the marked price of the jacket.
p-%280.2%29p=91
p%281-0.2%29=91
p=91%2F0.8
highlight%28p=113.75%29