- #1
zak100
- 462
- 11
Homework Statement
At bernie's Bargain basement everything is sold for 20% less than the price marked. If bernie buys radios for $80, what price should he mark them if he wants to make a 20% profit on his cost?
Homework Equations
To increase a number by K% multiply it by (1+k%)
The Attempt at a Solution
For profit he has to increase the price by 20%.
Two ways: 20/100 * (80) =16 and then 80 + 16 = 96
OR 80(1+20/100) = 80 * 1.2 = 96
Now this is the profit price but he is giving a discount of 20% also by retaining the 20 % profit. This means we have to increase the profit price by 20%
96(1.2) =115.2 but this is not correct. Somebody please guide me.
Zulfi.