(markups and markdowns) (algebra)

Mathematics
Tutor: None Selected Time limit: 1 Day

A merchant purchased $10,000 worth of computer equipment and sold it at a %70 markup. if his other expenses came to $4,000, what was his profit?

May 14th, 2015

Cost Price = $10,000


Markup price = 70% of 10000 

Markup price = (70/100) * 10000 

Markup price = 0.7 * 10000 

Markup price = $7000


Selling price = Cost Price + Markup price 

Selling price = 10000 + 7000 

Selling price = $17000 


Other expenses = $4000


Profit = Selling Price - Cost Price - Other Expenses

Profit = 17000 - 10000 - 4000

Profit = $3000

May 14th, 2015

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