The cost price of a sweater is 40% less than that of the skirt. A profit of 20% is made when the skirt is sold for $48. What is the cost price of the sweater?
|
Sweater |
Skirt |
Cost price |
60% |
100% |
Profit |
|
+ 20% |
Selling price |
|
120% |
Cost price of the skirt in percentage = 100%
Cost price of the sweater in percentage
= 100% - 40%
= 60%
Selling price of the skirt in percentage
= 100% + 20%
= 120%
120% → 48
1% → 48 ÷ 120 = 0.40
60% → 60 x 0.40 = 24
Cost price of the sweater = $24
Answer(s): $24