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The flowers were marked up 120% of the cost to get get a selling price of $4.40. They did not sell well, so the florist reduced the mark up to 70% of the cost. What was the new selling price?
 Feb 15, 2014
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Captain_Kangaroo:

The flowers were marked up 120% of the cost to get get a selling price of $4.40. They did not sell well, so the florist reduced the mark up to 70% of the cost. What was the new selling price?



Hi Captain_Kangaroo,
cost * 120% = $4.40
C * 120/100 = $4.40

C = $4.40 * 100/120
So new price must be

NP = $4.40 * 100/120 * 70%
NP = $4.40 * 10/12 * 70/100
NP = $4.40 * 10/12 * 0.7
etc
 Feb 15, 2014

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