Answer: the original asking price of the Tarwa was $87.45.
Explanation:
To find the original asking price of the Tarwa, we need to use the formulas for markup and discount1
Markup is the amount by which the cost of a product is increased to get the selling price. Markup can be expressed as a percentage of the cost or as a fixed amount1
Discount is the amount by which the selling price of a product is reduced to get the final price. Discount can also be expressed as a percentage of the selling price or as a fixed amount1
The formulas for markup and discount are:
Markup=Selling price−Cost
Discount=Selling price−Final price
In this problem, we have:
Cost = $53
Markup = 65% of cost
Discount = 60% of selling price
We can use these values to find the selling price and the final price.
First, we find the markup amount by multiplying the cost by the markup percentage:
Markup=53×0.65
Markup=34.45
Then, we add the markup amount to the cost to get the selling price:
Selling price=53+34.45
Selling price=87.45
Next, we find the discount amount by multiplying the selling price by the discount percentage:
Discount=87.45×0.60
Discount=52.47
Finally, we subtract the discount amount from the selling price to get the final price:
Final price=87.45−52.47
Final price=34.98
Therefore, the original asking price of the Tarwa was $87.45.