The cost price of a sweater is 30% less than that of the shirt. A profit of 20% is made when the shirt is sold for $48. What is the cost price of the sweater?
| |
Sweater |
Shirt |
| Cost price |
70% |
100% |
| Profit |
|
+ 20% |
| Selling price |
|
120% |
Cost price of the shirt in percentage = 100%
Cost price of the sweater in percentage
= 100% - 30%
= 70%
Selling price of the shirt in percentage
= 100% + 20%
= 120%
120% → 48
1% → 48 ÷ 120 = 0.40
70% → 70 x 0.40 = 28
Cost price of the sweater = $28
Answer(s): $28
