Markup and Markdown problems

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Any help is appreciated:

A store sells an item it originally marked up 30% of the cost price, at a discount of 58% of the selling price. What percent of the cost is the resulting profit or loss on this sale?

Help, anyone? :?
 
robinmae7 said:
A store sells an item it originally marked up 30% of the cost price, at a discount of 58% of the selling price. What percent of the cost is the resulting profit or loss on this sale?
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The cost was some amount "c". The markup was thirty percent of the cost. What expression represents "thirty percent of the cost"? (Hint: Multiply.)

The selling price was the cost, plus the markup. What expression represents "(cost) + (markup)"? (Hint: Add.)

The markdown price was fifty-eight percent of the selling price. What expression represents "fifty-eight percent of the selling price"? (Hint: Multiply.)

What is the simplified form of the final expression? How does this compare with the original "cost" expression?

Please be complete. Thank you! :D

Eliz.
 
Thanks, but the part that makes this problem so confusing is that they do not offer any figures. Just percentages.... it's slightly confusing as to how one should write out the solution.

I need lamen terms, as well. I suck at translating.

:oops:
 
From your post, it sounds as though you somehow reached business studies without having taken algebra or business calculus...? If you don't know how to work with variables and expressions, then I'm afraid I don't know how they're expecting you to answer this. :oops:

(If you had learned about that stuff at some point, then "use a variable" would not have been so befuddling that you would have asked for "layman's terms". [At least, I think that's what you meant by 'lamen"...?] In fact, "variables" are basic "layman" terminology for any student who has taken algebra!) :shock:

Please ask your instructor what pre-algebraic method you are supposed to be using. Thank you! :D

Eliz.
 
Just suppose the starting figure was $1. Do the procedure and see how you would answer that. Then do it for $2. If you need further confirmation, do it for $3.
 
I resent your last post Stapel. I took algebra.... it just so happens that it was about 10-12 years ago that I took it. I am taking these courses as a refresher, and asking for help does not hurt. Neither does keeping your opinion to yourself. Thanks, anyway.
 
A common lament ...

robinmae7 said:
... I took algebra ... ? You EXPECT us to know this? (Sheesh!)

... it just so happens that it was about 10-12 years ago that I took it. ? Your posts are consistent with this statement.

... asking for help does not hurt. Neither does keeping your opinion to yourself. ? Huh? Keeping our opinions to ourselves does not hurt? Hurt what? Your feelings?
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Hello Robin:

Your resentment is unjustified.

Please do not take your frustration over having forgotten algebra out on us.

If there is a specific question, then please ask it. Do not expect us to read your mind.

(We are all willing to help GUIDE you, but we cannot hand you a refreshed brain on a silver platter.)

If you are not capable of designing a specific question for us, the answer to which will provide you the specific information that you seek, then please speak with your instructor.

Loren provided you with a VERY COMMON APPROACH used in mathematics to go from actual values to symbolic reasoning.

Did you even consider this suggestion?

If you did, then please explain why you're stuck on writing a symbolic answer (if you're still interested). I would like to help you.

If you did not try it, then please speak with your instructor because I have NO interest in students that do not try.

~ Mark :|
 
I did ask for help, Mark. The question that I inputted was the question I was asked. Forgive my stubborn attitude, but try to understand that people telling me that I should NOT be taking a course in which I am perfectly capable insults my intelligence. I do not wish to cause grief. I did try the question, and I got past it.

My instructor is of no use at this point in time, and frustration was setting in. However, I managed.... thank you for your help, and pleasant journey.

R. :)
 
That does not count ...

robinmae7 said:
The question that I inputted was the question I was asked.
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That question is not yours. It was given to you by somebody else.

YOU did not ask us any question on your own about HOW to answer this exercise. I have no idea why you cannot answer the exercise.

Good luck in your studies. I hope you feel welcome in the future to post a specific question about any particular step in solving any particular math problem.

~ Mark :)
 
>A store sells an item it originally marked up 30% of the cost price, at a discount of 58% of the selling price. What percent of the cost is the resulting profit or loss on this sale?

Don't be afraid to write things out in long hand. It will help you organize your thoughts.

Suppose the Cost of the item was $50. We could track what happens as follows.

The item is marked up 30%. $50 + .30($50) = $65 <<< This is the shelf price.

The item is then marked down 58%. $65 -.58($65) = $27.30 <<< This is the actual price it sold for.

Profit or loss is difference between cost and actual selling price. $50 - $27.30 = $22.70 <<< This is the amount of loss.

Percent of loss >>> 22.70 is what percent of 50? 22.70/50 = .454 or 45.4%.

Now, you could follow these steps, but instead of $50, use C for Cost and L for Loss.
 
emm.... may i know who will involve in the markup and markdown?? who will do the markup and mark down? why people will do markup and markdown? and the last 1 is what is the series of mark up and mark down?
 
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