The cost price of a coat is 40% less than that of the windbreaker. A profit of 20% is made when the windbreaker is sold for $24. What is the cost price of the coat?
| |
Coat |
Windbreaker |
| Cost price |
60% |
100% |
| Profit |
|
+ 20% |
| Selling price |
|
120% |
Cost price of the windbreaker in percentage = 100%
Cost price of the coat in percentage
= 100% - 40%
= 60%
Selling price of the windbreaker in percentage
= 100% + 20%
= 120%
120% → 24
1% → 24 ÷ 120 = 0.20
60% → 60 x 0.20 = 12
Cost price of the coat = $12
Answer(s): $12
