Question

A pet store owner set the price of a bag of cat food at 50% above the cost. When it did not sell, the price was reduced by 20%, to $12.00. What was the original cost?

Answer 1

60

Explanation:

Answer 2

$10.

Explanation:

Let x represent the original cost of bag of cat food.

We have been given that a pet store owner set the price of a bag of cat food at 50% above the cost. So the cost of cat food would be x plus 50% of x.

`x+(50)/(100)*x\rightarrow x+0.5x=1.5x`

We are further told that the price was reduced by 20%, when it did not sell. So price of cat food after reduction would be
`1.5x` minus 20 percent of
`1.5x`.

`1.5x-((20)/(100)* 1.5x)`

`1.5x-(0.20* 1.5x)`

`1.5x-(0.3x)`

`1.2x`

Since price after reduction was $12, so we will equate
`1.2x` with 12 as:

`1.2x=12`

`(1.2x)/(1.2)=(12)/(1.2)`

`x=10`

Therefore, the original cost of cat food was $10.