SOLUTION: Billington's buys shirts for $21 less 25% and 20%. The shirts are priced at a regular selling price to cover expenses of 20% of regular selling price and a profit of 17% of regular
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Question 992263: Billington's buys shirts for $21 less 25% and 20%. The shirts are priced at a regular selling price to cover expenses of 20% of regular selling price and a profit of 17% of regular selling price. For a special weekend sale, shirts are marked down 20%.
a) What was the operating profit or loss on the shirts sold during the weekend sale?
b) What rate of markup was realized based on cost?
Answers:
a) loss of $0.60
b) 26.9841% Answer by solver91311(24713) (Show Source):
