Answer:
10.5 %
Skills needed: Financial Math Essentials
Step-by-step explanation:
1) First, before getting started, let's assume the price of the product is [tex]x[/tex]. This variable will be used a lot throughout the problem ([tex]x[/tex]).
2) Marking a price above means increasing the price in order to make money off of the purchased product. When raising something by [tex]y[/tex] percent, the new price would be [tex]x + \frac{y}{100}*x[/tex].
---> In this case, the price increased by [tex]\textbf{30}[/tex] percent.
This means that it would be: [tex]x+\frac{30}{100}x = x+0.3x=1.3x[/tex]
New price is: [tex]1.3x[/tex]
3) The shopkeeper is then offering a [tex]\textbf{15}[/tex] percent discount off of this marked price. When offering a [tex]b[/tex] percent discount price, the new price (with discount), expressed algebraically is: [tex]a-\frac{b}{100}a[/tex]
---> the expression above simplifies to [tex](1-\frac{b}{100})a[/tex]
In this case, [tex]a=1.3x[/tex], [tex]b=15[/tex]
---> [tex](1-\frac{15}{100})*1.3x = (1-0.15)*1.3x=0.85*1.3x=1.105x[/tex]
This means that [tex]x[/tex], with discount, has been raised [tex]\textbf{10.5 percent}[/tex].
10.5 % is the profit percent
(The profit percent being the final marked up price - purchased price)
