Another math question...

[HowAboutDAT]

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Jeez, CDM explanations are really bad... So here's another one

A trader purchases goods at 80% of the marked price, sells them at 20% above the cost price, and makes a profit of $10. If the marked price is 20% more than the cost price, what is the marked price of the goods? Thanks guys.

 

[Shinpe]

Converting everything to math:

A trader purchases goods at 80% of the marked price -> Paid = 0.8*MP
, sells them at 20% above the cost price, received = 1.2*CP
and makes a profit of $10. Revenue 10$= received - paid = 1.2CP-0.8MP (Eq. A)
If the marked price is 20% more than the cost price, MP=1.2*CP (Eq. B)
what is the marked price of the goods?

Plug B into A:
10=1.2*CP-0.8*(1.2*CP)= 1.2*CP(1-0.8)=1.2*0.2*CP=(6/5)*(1/5)*CP
CP=250/6~ 41.66$

Didn't check my work, but should be right unless i made a math error

 

[pbure9]

Was it off or of? Because if it was 80% off the market price, then the market price (MP) would be 0.2MP
Because say its $100 dollars, then he'd only be paying .2(100) = $20 not 80.
If so, I think the answer is 12.50 which would give for a much easier calculation 😀

 

[HowAboutDAT]

awesome thanks, the final answer would be 49.2 which is about 50... just wondering, is CDM on par as far as the QR section goes on the DAT?