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 20% to 12$ what was the original cost

Answer 1

cost = $10

Explanation:

let cost be x

Price = x+ (0.5x)= 1.50x

cost reduced in term of x is 20% of 1.50x

`(20)/(100)` * 1.50x = 0.3x

hence 1.50x - 0.3x = 12

1.2x=12

x=
`(12)/(1.2)` = 10

cost = $10