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Picture of YellowJacket
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cost = 1X
markup = 120% = 1.2x
retail = cost+markup = 1x+1.2x = 2.2x
sale price = (2.2x)*.8
clearance = (2.2x*.8)*.7
out the door = ((2.2x*.8)*.7)*.9 = 1.1088X =
10.88%

fun problem



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Posts: 8424 | Location: Marietta, GA | Registered: February 10, 2009Reply With QuoteReport This Post
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I got used to the fact I can't always help my younger brothers with the homework, especially Math. I know that somehow that get help online, some experts are able to https://mc2.bid4papers.com/ solve any calculus.
 
Posts: 17 | Registered: May 03, 2015Reply With QuoteReport This Post
His Royal Hiney
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quote:
Originally posted by 4x5:
My daughter was given this problem in her homework, and we're having a hard time figuring it out. Hopefully, someone here can help.

A shoe store marks up the price of it's shoes 120% over cost. A pair of shoes goes on sale for 20% off, and then goes on the clearance rack for an additional 30% off. A customer walks in with a 10% off coupon good on all clearance items, and buys the shoes. Express the store's profit on these shoes as a percentage of the original cost.



The bolded part is where most people get messed up.

Price = Mark up + Cost = (120% * Cost) + (100% * Cost) = 220% * Cost

To figure the price paid after all the discounts:

Actual Sale Price = Cost * 2.20 * 0.80 * 0.70 * 0.90 = 1.1088 * Cost

Profit = Actual Sale Price - Cost = (1.1088 * Cost) - Cost = (1.1088 - 1) * Cost = 0.1088 * Cost = 10.88% * Cost.



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Posts: 14725 | Location: Bay Area, CA | Registered: March 24, 2011Reply With QuoteReport This Post
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WOW, an October 2017 thread pops to the top.... How did that happen?




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42



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Posts: 18196 | Location: Central Florida (near Orlando) | Registered: January 03, 2010Reply With QuoteReport This Post
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60% profit
 
Posts: 1172 | Location: South Carolina | Registered: August 06, 2009Reply With QuoteReport This Post
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tired, or just lazy
Picture of ggile
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quote:
Originally posted by BigWhup:
60% profit



That's what I came up with....60.48 to be exact.


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Posts: 983 | Location: Dakota Territory | Registered: June 20, 2005Reply With QuoteReport This Post
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Please show your computations to get that figure. Competent math has been given to show the Profit was 10.88% (based on one interpretation of the problem--the other interpretation gave a loss).

flashguy




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Posts: 20051 | Location: Dallas, TX | Registered: May 08, 2006Reply With QuoteReport This Post
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quote:
Originally posted by SR:
WOW, an October 2017 thread pops to the top.... How did that happen?


Inflation...




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Posts: 37741 | Location: fl | Registered: December 20, 2008Reply With QuoteReport This Post
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I thought I am the only one who seeks for math advice online, I guess you already found the right answer. I could cope with daughter's homework till 5th grade, now we both take additional lessons and use https://myschoolsmath.com/ online helping sources to improve our skills, rather efficient.
 
Posts: 17 | Registered: May 03, 2015Reply With QuoteReport This Post
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