Multiple choice

The original retail price of an appliance was 60 percent more than its wholesale cost. If the appliance was actually sold for 20 percent less than the original retail price, then it was sold for what percent more than its wholesale cost?

  1. 20%

  2. 28%

  3. 36%

  4. 40%

  5. 42%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let wholesale cost = 100. Retail = 160. Sold for 20% less than 160: 160 * 0.8 = 128. 128 is 28% more than 100.

AI explanation

Let the wholesale cost be 100, making the original retail price 160 after the 60 percent increase. The appliance was sold for 20 percent less than the retail price, so multiplying 160 by 0.80 gives the actual selling price of 128. Comparing this selling price to the wholesale cost of 100, the appliance was sold for 28 percent more than the wholesale cost.

Keep practicing — related questions