A sporting goods store added 50% profit cost and 8% tax to the price of a backpack, which then became $129.60. What was the price of the backpack before adding profit and tax?
Correct answer: B. 80
- A. 70
- B. 80
- C. 90
- D. 100
Explanation
To find the original price of the backpack, let's denote it as $x.First, a 50% profit is added, making the price 1.5x. Next, an 8% tax is applied to this new price, resulting in 1.08(1.5x) = 1.62x.We are given that the final price is $129.60, so we can set up the equation:1.62x = 129.60Solving for x, we divide both sides by 1.62: x = 129.60 / 1.62 = 80.Therefore, the original price of the backpack before adding profit and tax was $80. Options A, C, and D are incorrect because they do not satisfy this calculation when the tax and profit percentages are removed.
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Quantitative reasoning applies arithmetic and basic algebra to numerical relationships, including percentages, ratios, averages, fractions, proportions, profit and loss, rates, time, work and measurement. Questions focus on translating words into equations, choosing an efficient method and checking whether the result is numerically reasonable.
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