Question

An antique dealer usually charges 20 percent more than his purchase price any vase sold in his store.during a clearance sale,all items are marked 10 percent off.if the dealer sells a vase during the clearance sale,his profit on the vase(sale price minus purchase price) is what percent of the purchase price of the vase?

a. 8%
b. 9%
c. 10%
d. 11%
e. 12%

Answer 1

The answer is c. 10%
We know that the antique dealer would normally charge 20% more than the price he purchased the item for. This also means that the antique dealer is making a profit of 20% on the items he sells. If the antique dealer hosts a 10% off sale, he is reducing the profit he is making from 20% to 10%.