June 14, 2021 10:26 am
Topic starter
0
A retailer marked up the cost of a coat by 20% when she first displayed it in
her store. After several weeks, she reduced the selling price of the coat by 25%.
If the retailer originally paid $50 for the coat, what will be her loss on the coat
at the final price?
Α) $0
B) $5
C) $10
D) $15
E) $20
1 Answer
0
June 14, 2021 10:26 am
Topic starter
The retailer first set the selling price of the coat at 120% of cost: 1.20 x $50=$60.
Later, she reduced the selling price 25%: 0.75 x $60=$45.
She will lose $5 selling the coat at that price. The correct answer is B.