SOLUTION: A store bought a number of tractors for $800 each. Its regular selling price is $1000.The store decides to discount the price to stimulate sales and to earn a minimum profit of 5%.
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-> SOLUTION: A store bought a number of tractors for $800 each. Its regular selling price is $1000.The store decides to discount the price to stimulate sales and to earn a minimum profit of 5%.
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Question 360623: A store bought a number of tractors for $800 each. Its regular selling price is $1000.The store decides to discount the price to stimulate sales and to earn a minimum profit of 5%. What is the maximum discount rate?
You can put this solution on YOUR website! tractor cost $800
5 % minimum profit
so their profit 800/100*5= 40
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profit now is $200
minimum profit = 40
so discount to be offered = 160.
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1000 discount 160
100 ---?
160*100/1000= 16%
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