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 ?
actual cost = $ 42 sp = actual cost + mark up = actual cost + 30 % sp = 42 * 100 / 70 on sale sp = 80 / 100 ( 42 * 100 / 70 ) = 48 gross profit = $ 6 answer is c
subtract(multiply(divide(42, subtract(const_1, divide(30, const_100))), subtract(const_1, divide(20, const_100))), 42)