The cost price of a vest is 10% less than that of the shirt. A profit of 20% is made when the shirt is sold for $72. What is the cost price of the vest?
|
Vest |
Shirt |
Cost price |
90% |
100% |
Profit |
|
+ 20% |
Selling price |
|
120% |
Cost price of the shirt in percentage = 100%
Cost price of the vest in percentage
= 100% - 10%
= 90%
Selling price of the shirt in percentage
= 100% + 20%
= 120%
120% → 72
1% → 72 ÷ 120 = 0.60
90% → 90 x 0.60 = 54
Cost price of the vest = $54
Answer(s): $54