Question

Diamonds are generally marked up 100% from wholesale. If you offer a discount of 25% from the normal price on a diamond ring that originally cost you $275 wholesale, at what price are you offering the ring?

Answer 1

Answer:

$412.5

Explanation:

First, we have to calculate the sale price of diamond at which i will be selling in normal circumstances

Normal selling price=Cost price+100%*Cost price

                               =275+100%*275

                               =$550

Now apply the discount rate of 25% to the normal selling price to caculate the actual offer price

Actual offer price=550*75%=$412.5