Beginner Business Math confused about Markup/Markdown
Hi, I'm very confused about a particular question while I was doing homework. The question goes ;
'Homeguard hardware buys cat litter for 6$ less 20% per bag. The store's overhead is 45% of cost and the owner requires a profit of 20% of cost.'
f)What operating profit or loss is made if the bag is sold for $6?
I've completed the questions previous to this, but this one really stumped me. The relation I've used for the other questions was S = C + E + P. I already found out that C=4.80, E=2.16, P=0.96 and S=7.92, and to find the profit/loss if I were to sell it for $6, I'd have to solve for P.
What steps would I have to do to solve or start out the question? It sounds pretty simple, but I just have no idea how to find the profit/loss if it is sold for 6$. I don't know where or how to begin, I tried looking up notes in the book and online but that didn't help much. I'm just utterly lost. Any help would be appreciated, thanks. ^^
Hi, I'm very confused about a particular question while I was doing homework. The question goes ;
'Homeguard hardware buys cat litter for 6$ less 20% per bag. The store's overhead is 45% of cost and the owner requires a profit of 20% of cost.'
f)What operating profit or loss is made if the bag is sold for $6?
I've completed the questions previous to this, but this one really stumped me. The relation I've used for the other questions was S = C + E + P. I already found out that C=4.80, E=2.16, P=0.96 and S=7.92, and to find the profit/loss if I were to sell it for $6, I'd have to solve for P.
What steps would I have to do to solve or start out the question? It sounds pretty simple, but I just have no idea how to find the profit/loss if it is sold for 6$. I don't know where or how to begin, I tried looking up notes in the book and online but that didn't help much. I'm just utterly lost. Any help would be appreciated, thanks. ^^
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