Question

PLEASE SOLVE THIS :(
​

Answer 1

10.5 %

Skills needed: Financial Math Essentials

Explanation:

1) First, before getting started, let's assume the price of the product is
`x`. This variable will be used a lot throughout the problem (
`x`).

2) Marking a price above means increasing the price in order to make money off of the purchased product. When raising something by
`y` percent, the new price would be
`x + (y)/(100)*x`.

---> In this case, the price increased by
`\textbf{30}` percent.

This means that it would be:
`x+(30)/(100)x = x+0.3x=1.3x`

New price is:
`1.3x`

3) The shopkeeper is then offering a
`\textbf{15}` percent discount off of this marked price. When offering a
`b` percent discount price, the new price (with discount), expressed algebraically is:
`a-(b)/(100)a`

---> the expression above simplifies to
`(1-(b)/(100))a`

In this case,
`a=1.3x`,
`b=15`

--->
`(1-(15)/(100))*1.3x = (1-0.15)*1.3x=0.85*1.3x=1.105x`

This means that
`x`, with discount, has been raised
`\textbf{10.5 percent}`.

10.5 % is the profit percent

(The profit percent being the final marked up price - purchased price)