Question 960612: how do I solve this problem? Please help!
A shoe store marks up the price of its shoes at 140% over cost. A pair of shoes is on sale for 20% off and then on the clearance rack for an additional 30% off. A customer walks in with a 10% coupon good on all clearance and buys the shoes. Express the store's profits on these shoes as a percentage of the original cost. (Round answer to two places as needed)
Thank you.
Answer by ankor@dixie-net.com(22740)   (Show Source):
You can put this solution on YOUR website! let c = the original cost
A shoe store marks up the price of its shoes at 140% over cost.
1.4c = original retail price
A pair of shoes is on sale for 20% off (80% of the price)
.8*1.4c = 1.12c, new retail price
and then on the clearance rack for an additional 30% off. (70% of the price)
.7*1.12c = .784c
A customer walks in with a 10% coupon good on all clearance and buys the shoes.
(that's 90% of the price)
.9*.784c = .7056c; the final price
:
Express the store's profits on these shoes as a percentage of the original cost.
Sold at 70.56% of original cost, he lost money on it, 29.44% loss
(Round answer to two places as needed)
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