The cost price of a sweater is 40% less than that of the shirt. A profit of 20% is made when the shirt is sold for $78. What is the cost price of the sweater?
|
Sweater |
Shirt |
Cost price |
60% |
100% |
Profit |
|
+ 20% |
Selling price |
|
120% |
Cost price of the shirt in percentage = 100%
Cost price of the sweater in percentage
= 100% - 40%
= 60%
Selling price of the shirt in percentage
= 100% + 20%
= 120%
120% → 78
1% → 78 ÷ 120 = 0.65
60% → 60 x 0.65 = 39
Cost price of the sweater = $39
Answer(s): $39