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.
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?