A Retailer Paid $59

question 71

Essay

A retailer paid $59.23 for a set of utensils. Overhead is 14% of the regular selling price and profit is 11% of the regular selling price. During a clearance sale, the set was sold at a markdown of 17%. What was the operating profit or loss on the sale?

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Definitions:

Rational Exponents

An exponent that is a fraction, where the numerator indicates a power and the denominator indicates a root.

Rewrite

The act of expressing something in a different way or form, especially to clarify or simplify it.

Radical Expression

An expression that includes a square root, cube root, or higher root symbol.

Evaluate

To calculate the numerical value of; to determine the significance, worth, or condition of usually by careful appraisal and study.