Question

An item that a store originally sold for R6 950,82 was offered at a discount of 8,5%. The store still made a 20% profit on sale. The price that the store originally paid for the item is

Answer 1

Given : An item that a store originally sold for Rs 6 950.82 was offered at a discount of 8,5%. The store still made a 20% profit on sale.

To Find : The price that the store originally paid for the item

Solution:

Let say store originally paid amount =Rs  C

store  made a 20% profit on sale = (20/100)C  =  Rs 0.2C

Selling Price = C + 0.2C = Rs 1.2C

store originally sold for Rs 6950.82

Discount = 8.5 %

Discount = (8.5/100)6 950.82  = Rs 590.82  

Selling Price = 6950.82  - 590.82   =Rs 6360

1.2C = 6360

=> C = 5300

The price that the store originally paid for the item is Rs 5300

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