The cost price of a shirt is 20% less than that of the coat. A profit of 10% is made when the coat is sold for $77. What is the cost price of the shirt?
| |
Shirt |
Coat |
| Cost price |
80% |
100% |
| Profit |
|
+ 10% |
| Selling price |
|
110% |
Cost price of the coat in percentage = 100%
Cost price of the shirt in percentage
= 100% - 20%
= 80%
Selling price of the coat in percentage
= 100% + 10%
= 110%
110% → 77
1% → 77 ÷ 110 = 0.70
80% → 80 x 0.70 = 56
Cost price of the shirt = $56
Answer(s): $56
