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Math Help - Mathematics of merchandising

  1. #1
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    Mathematics of merchandising

    Hi all, I'm having a really tough time with this question... a little guidance?

    30% markup of cost price..then 58% discount off selling price. What percent is the resulting profit or loss on this sale?

    So i have that selling price = cost + markup = 100 + 30 = 130 %
    now what?

    Thanks..I'm so lost.
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  2. #2
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    Quote Originally Posted by clarke915 View Post
    Hi all, I'm having a really tough time with this question... a little guidance?

    30% markup of cost price..then 58% discount off selling price. What percent is the resulting profit or loss on this sale?

    So i have that selling price = cost + markup = 100 + 30 = 130 %
    now what?

    Thanks..I'm so lost.
    Let cost price be P. Then P --> P + 30% of P = 1.3P --> 1.3P - 58% of 1.3P = 1.3P - 0.58(1.3P) = 1.3P - 0.754P = 0.546P.

    So there is a loss of (100 - 54.6)% = 45.4%.
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  3. #3
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    68
    1 - (1 + .30)(1 - .58)
    = 1 - 1.3(.42)
    = 1 - .546
    = .454 or 45.4%

    If you wanna see that "in action", assume $100 as cost price:

    30% of 100 = 100 * .30 = 30;
    so selling price = 100 + 30 = 130 ; ok?

    58% of 130 = 130 * .58 = 75.40;
    so price after discount = 130 - 75.40 = 54.60 ; still with me?

    Results in net loss of 100 - 54.60 = 45.4, or 45.4% ; kapish?
    Last edited by Wilmer; September 28th 2009 at 10:02 AM. Reason: none
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