SOLUTION: Suppose that a bookstore buys a textbook from the publisher for $80. At what price should the bookstore mark the textbook so that it may be offered at a discount of 10% but still g

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: Suppose that a bookstore buys a textbook from the publisher for $80. At what price should the bookstore mark the textbook so that it may be offered at a discount of 10% but still g      Log On


   

Question 1009269: Suppose that a bookstore buys a textbook from the publisher for $80. At what price should the bookstore mark the textbook so that it may be offered at a discount of 10% but still give the bookstore a 35% profit on the $80 investment?
Answer by LinnW(1048) About Me  (Show Source):
You can put this solution on YOUR website!
To obtain the desired 35% profit,
the book needs to sell for $80 + 35% * $80
Our target price for the sale is 80 + 0.35*80
= 80 + 28
=$108
We need the original price of the book
to be enough so that 10% off of that
price gives us $108
Set P = the original price
The original price minus 10% of the original price must equal $108
P - 10% * P = 108
P - 0.10P = 108
0.90P = 108
Divide each side by 0.90
P = 108/0.90
P = 120
So the books original price needs to be $120