When a secondhand bookstore holds a sale with a 10 percent reduction in prices, it makes an 8 percent profit on each book sold. What was the profit before the sale?
I agree with Natalie....17.2%. All of the amount that was discounted was profit lost, so add the lost profit fromt he sale to the remaining 8% of profit and you get your total profit. I chose an original book price of 100. So the sale price was 90. 8% of 90 is 7.20 plus the 10 you took off making 17.20 (equal to the percent since I started with 100)
I started out thinking somewhere along this line, too, but then tried to go the simpler way... Then I thought that the 10% deduction was not a deduction from the profit, but from the overall price so you couldn't consider the full 10% as profit...
Oh the answer - which makes my brain hurt by the way - is:
Not 10% + 8% = 18%.
If 90% of the original price is 108% of what a book costs the store, then 100% of the original price is 108% x 100/90 = 120% of what a book costs the store and there answer is 20%
20 comments:
Um, 18%?
Is there VAT?? LOL
8.8888888%
8% profit is on 90% of the original book price
8.888888 % is on 100% of the original book price
No VAT sweetie :) It is a straight mathematical puzzle and neither Julie or Mariann are correct yet :)
I will point out that I didn't get it right when I tried it either :)
I'm useless at these things which is why I went for the humorous answer...I'll go 2%
To be honest I'm waiting for Nate the Teacher or Karen the Engineer (or even Tracy the ex-engineer) to figure this one :) :)
I promise the next wont be mathematical .....
I'm much better at figuring up the sales tax. 18% was my instictive guess, but Mariann's rings with a bit of truth, too. 8.1%?
Well according the answer on the back its neither .....
My first thought is 17.2% But I think that is wrong....I am not good with percentages
I'ii Say 10%
I agree with Natalie....17.2%. All of the amount that was discounted was profit lost, so add the lost profit fromt he sale to the remaining 8% of profit and you get your total profit. I chose an original book price of 100. So the sale price was 90. 8% of 90 is 7.20 plus the 10 you took off making 17.20 (equal to the percent since I started with 100)
Do you want the written answer or do you want to keep on trying?
I started out thinking somewhere along this line, too, but then tried to go the simpler way... Then I thought that the 10% deduction was not a deduction from the profit, but from the overall price so you couldn't consider the full 10% as profit...
Okay, I want the answer :) I tried it another way, and still could not come up with a better answer. This one has me stumped!!
Nothing - because you can't make a profit until the book is sold????
Oh good answer Trish! You are most certainly correct!
Pure logic..I bet she's right too!
Nah - as I said this is a mathermatical puzzle.
Oh the answer - which makes my brain hurt by the way - is:
Not 10% + 8% = 18%.
If 90% of the original price is 108% of what a book costs the store, then 100% of the original price is 108% x 100/90 = 120% of what a book costs the store and there answer is 20%
Now would someone put that in English for me?
Not a hope.
I still like Trish's answer.....it is in plain Englis correct as well.
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