Question: a merchant purchased a jacket for $ 42 and then determined a selling price that equalled the purchase price of the jacket plus a markup that was 30 percent of the selling price . during a sale , the merchant discounted the selling price by 20 percent and sold the jacket . what was the merchant ’ s gross profit on this sale ?
A) $ 0
B) $ 3
C) $ 6
D) $ 12
E) $ 15
Correct answer: C
Grade: 7 | Topic: Ratios and proportions | Difficulty: Medium | Standard: 7.RP.A.3