Question

A clothing store bought a sweater for a certain price and marked it up 70%. The sweater didn't sell, so the store owner took 25% off the original sale price and it sold at that price. What percent profit did the store make?

Answer 1

Its easy to solve this problem by taking 100 as the cost price of the sweater.

If it is marked up 70%, the selling price is 70% more than 100, which is 170 as shown below:

Selling price = $100+(0.7)(100)=100+70=170$

Now we need to subtract 25% of 170 from 170 to get his new price (at which he sold).

New price = $170-(0.25)(170)=170-42.5=127.5$

He sold it for $127.5. So how much profit did he make?

Profit = Income - Cost = $127.5-100=27.5$ dollars

In percentage, $\frac{27.5}{100}*100=27.5$%

ANSWER: 27.5% profit

Answer 2

The answer is 50%, to get this you take the original percentage in this case 70% and you subtract that by the new sale price which is 25% to get your answer of 50%

75%-25% =50%
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