SIGforum.com    Main Page  Hop To Forum Categories  The Lounge    I need some help with a math problem
Page 1 2 
Go
New
Find
Notify
Tools
Reply
  
I need some help with a math problem Login/Join 
YellowJacket
Caribou gorn
Picture of YellowJacket
posted Hide Post
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


I'm gonna vote for the funniest frog with the loudest croak on the highest log.
 
Posts: 10627 | Location: Marietta, GA | Registered: February 10, 2009Reply With QuoteReport This Post
Rey HRH
His Royal Hiney
Picture of Rey HRH
posted Hide Post
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.


"It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946.
 
Posts: 20180 | Location: The Free State of Arizona - Ditat Deus | Registered: March 24, 2011Reply With QuoteReport This Post
SR
Member
Picture of SR
posted Hide Post
WOW, an October 2017 thread pops to the top.... How did that happen?



Speak softly and carry a big stick loaded Sig
 
Posts: 4892 | Location: Raleigh, North Carolina | Registered: September 27, 2004Reply With QuoteReport This Post
V-Tail
אַרְיֵה
Picture of V-Tail
posted Hide Post
42


הרחפת שלי מלאה בצלופחים
 
Posts: 31590 | Location: Central Florida, Orlando area | Registered: January 03, 2010Reply With QuoteReport This Post
BigWhup
Paddle your
own canoe
Picture of BigWhup
posted Hide Post
60% profit
 
Posts: 1576 | Location: South Carolina | Registered: August 06, 2009Reply With QuoteReport This Post
ggile
I can't tell if I'm
tired, or just lazy
Picture of ggile
posted Hide Post
quote:
Originally posted by BigWhup:
60% profit



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


_____________________________

"The problems we face today exist because the people who work for a living are outnumbered by those who vote for a living."

"Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety"
Benjamin Franklin
 
Posts: 2115 | Location: South Dakota-pheasant country | Registered: June 20, 2005Reply With QuoteReport This Post
flashguy
Muzzle flash
aficionado
Picture of flashguy
posted Hide Post
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



Texan by choice, not accident of birth
 
Posts: 27911 | Location: Dallas, TX | Registered: May 08, 2006Reply With QuoteReport This Post
sigmonkey
A Grateful American
Picture of sigmonkey
posted Hide Post
quote:
Originally posted by SR:
WOW, an October 2017 thread pops to the top.... How did that happen?


Inflation...



"the meaning of life, is to give life meaning" ✡ Ani Yehudi אני יהודי Le'olam lo shuv לעולם לא שוב!
 
Posts: 44569 | Location: ...... I am thrice divorced, and I live in a van DOWN BY THE RIVER!!! (in Arkansas) | Registered: December 20, 2008Reply With QuoteReport This Post
  Powered by Social Strata Page 1 2  
 

SIGforum.com    Main Page  Hop To Forum Categories  The Lounge    I need some help with a math problem

© SIGforum 2024