Profit and Loss

Dec 2019
1
1
Calgary
An item sold was originally marked up by 30% of the cost price, at a discount of 58% of the selling price. What percent of the cost is the resulting profit or loss of this sale?

I used $1.00 as my cost making my sell price $1.30.
58% of sell is 0.754
1.30-0.754= 0.546 (new Sell price)
0.546-1.00= 0.454
0.454/1.00*100=45.4%

Am I even close?
 
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Reactions: Lev888
Jan 2009
457
134
My interpretation might be mistaken, but I assumed like you that the effects are on the selling price only and are multiplicative.

Let x be cost price and y be selling price, and net balance = selling price - cost price = y-x

y = 0.58(1.3x) = 0.754x
y-x = 0.754x - x = -0.246

Hence it's a 25% loss rounded up.