When sold at a 40% discount, a sweater nets the merchant a 30% profit on the wholesale cost at which he initially purchased the item. By what % is the sweater marked up from wholesale at its normal retail price? Choices:
A) 20 % B) 40 % C) 50 % D) 53.85 % E) 100 %

Rationale: "we should be careful about what are we measuring % on / what is the base . . let the marked up price = 100 . . selling price = 100 - 40 % of 100 = 60 . . profit = 30 % . . therefore the wholesale purchase cost = x . . . . 1.3 x = 60 or x = 46.15 . . . marked price was 100 so . . . so answer is 53.85 % . . d"
Answer: D