A gift shop buys souvenirs at a wholesale price of 7.00 dollars each and resells them each at a retail

Question

A gift shop buys souvenirs at a wholesale price of 7.00 dollars each and resells them each at a retail price that is 290 % of the wholesale price. At the end of the season, any remaining souvenirs are marked at a discounted price that is 80 % off the retail price. What is the discounted price of each remaining souvenir, in dollars?

Accepted Answer

The correct answer is 4.06 . It's given that the retail price is 290 % of the wholesale price of $ 7.00 . Thus, the retail price is $ 7.00 290 100 , which is equivalent to $ 7.00 2.9 , or $ 20.30 . It's also given that the discounted price is 80 % off the retail price. Thus, the discounted price is $ 20.30 1 - 80 100 , which is equivalent to $ 20.30 0.20 , or $ 4.06 .

Question a-gift