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Price word problem. lifesaver

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Date Posted: 7/25/2008 12:01:01 AM  Status: Live
Price word problem. lifesaver
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Question Details:
Hello, I am having problem solving this problem, please help by showing me your work...thank you so much!!!  =)
 
A certain clothing store marks down any stock that is over 1 month old by 20% and anything over 2 months old is marked down to 50% its original price.  Of one lot of 100 sweaters, 20 sell during the first month, 35 during the second month, and the remainder sell quickly after the final markdown.  If the cost of the lot was $1,500, and the store's original markup was 100%, what is the total profit on the lot?
 
The answer is $615.00
~ Please rate and I hope it helps! ~ 
 

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Karma Points: 276
Date Posted: 7/25/2008 12:42:58 AM  Status: Live
Asker's Rating: Lifesaver   
Response:
so we know initial cost is $1500 for 100 sweaters
that is $15 each before markup
which after 100% markup is $30

any sweaters sold in the 1st month bring $15 profit
30 - 15 = 15
any sweaters sold in the 2nd month bring $9 profit
30 * (80%) - 15 = 24 - 15 = 9
any sweaters sold in the 3rd + month bring no profit
30 * (50%) - 15 = 15 - 15 = 0

so 20 sweaters with $15 profit
and 35 sweaters with $9 profit
the rest do not bring profit

20 * 15 + 35 * 9 = 300 + 315 = 615

total profit of $615
Babie Doll's Comment:
thanks so much! :)
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