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1. An item is sold for $65.00, giving the retailer a profit of 30% of the cost. What will be the new retail price if the retailer cuts his profit to 10% of costs?
- A. $55
- B. $55
- C. $55
- D. $55
Answer: Option A
Explanation:
when sp 130 then cp 100
when sp 1 then cp. 100/130
When Sp 65 then cp 100*65/130
So Cp = 50
Therefore the new retail price = 50 + 50*10% = $55
ans:$55
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