Asked by tisha

A merchant marks a certain lamp up 30% above cost.then he gives a customer a 15% discount.if the final selling price of the lamp was $99,what was the approximate cost price?

Answers

Answered by Steve
cost * 1.30 * (1-0.15) = 99
cost = 99/1.105 = 89.59
Answered by tisha
didnt get the answer..can u explain pls??
Answered by Steve
after a 30% markup the price is cost * 1.30

After a 15% discount, the price is

cost * 1.30 * 0.85 = cost * 1.105

That price is $99, so

1.105 * cost = 99
cost = 99/1.105 = 89.59

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