The cost price of a jacket is 40% less than that of the sweater. A profit of 20% is made when the sweater is sold for $60. What is the cost price of the jacket?
| |
Jacket |
Sweater |
| Cost price |
60% |
100% |
| Profit |
|
+ 20% |
| Selling price |
|
120% |
Cost price of the sweater in percentage = 100%
Cost price of the jacket in percentage
= 100% - 40%
= 60%
Selling price of the sweater in percentage
= 100% + 20%
= 120%
120% → 60
1% → 60 ÷ 120 = 0.50
60% → 60 x 0.50 = 30
Cost price of the jacket = $30
Answer(s): $30
