Multiple choice

Emily runs a small boutique where she sells handcrafted jewellery. She prices her jewellery to ensure a 50% profit. One of her bestselling items is a bracelet, which has a certain cost. Emily notices that if the cost of the bracelet were 30% lower and she reduced the selling price by $9.88, her profit would increase to 60%. Determine the original selling price of the bracelet.

  1. $26
  2. $39
  3. $41
  4. $52

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let Cost = C, Selling Price = 1.5C. New Cost = 0.7C. New Selling Price = 1.5C - 9.88. New Profit = 60% of 0.7C = 0.42C. So, 1.5C - 9.88 = 1.6 * 0.7C = 1.12C. 0.38C = 9.88, C = 26. Original Selling Price = 1.5 * 26 = 39.

AI explanation

Let the original cost be c, so the original selling price is 1.50c. The new cost is 0.70c, and the new selling price is 1.60 times 0.70c, equaling 1.12c. The difference between the original and new selling prices is 1.50c minus 1.12c, equaling 0.38c, which is given as 9.88. Therefore, c is 9.88 divided by 0.38, equaling 26, and the original selling price is 1.50 times 26, which is $39.

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