The cost price of a coat 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 coat?
| |
Coat |
Shirt |
| Cost price |
90% |
100% |
| Profit |
|
+ 20% |
| Selling price |
|
120% |
Cost price of the shirt in percentage = 100%
Cost price of the coat 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 coat = $54
Answer(s): $54
