SOLUTION: Help please.
A merchant buys a good for $275. Their store's operating expenses are 35% of cost. The selling price of the good is $549, but is marked down by 35%. The transactio
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A merchant buys a good for $275. Their store's operating expenses are 35% of cost. The selling price of the good is $549, but is marked down by 35%. The transactio
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Question 830981: Help please.
A merchant buys a good for $275. Their store's operating expenses are 35% of cost. The selling price of the good is $549, but is marked down by 35%. The transaction resulted in a:
The merchant sold the item at 35% off $549.
We could calculate 35% of $549 and then subtract the result from $549,
but it is easier to calculate the sale price as 65% of $549.
100% of any price - 35% of the same price = 100%-35% of the price =65% of the price.
Percentages are really fractions, and 65% is 65 out of each 100 or .
We calculate 65% of $549 by multiplying $549 times 0.65. .
That is what the merchant received when the item was sold.
The store's operating expenses are calculated as 35% of the cost of that item as .
The merchant had expenses of $275 + $96.25 = $371.25,
and got back only $356.85.
That is a net loss of $371.25 - $356.85 =
