SOLUTION: A merchant is selling a new line of watches. He prices the watches at $120 and runs a 10% off sale. During the sale, he made a profit of 20% sale on the watches. How much did the m

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: A merchant is selling a new line of watches. He prices the watches at $120 and runs a 10% off sale. During the sale, he made a profit of 20% sale on the watches. How much did the m      Log On


   

Question 1098090: A merchant is selling a new line of watches. He prices the watches at $120 and runs a 10% off sale. During the sale, he made a profit of 20% sale on the watches. How much did the merchant pay for each watch?

Answer by josgarithmetic(39620) About Me  (Show Source):
You can put this solution on YOUR website!
Sale price, 120-12=108

p, price at which merchant bought watch
%28108-p%29%2Fp=0.2
0.2p=108-p
1.2p=108
p=108%2F1.2
highlight_green%28p=90%29