Question

A new lawnmower cost $751.06, less 9%, 19%, and 30%, and sells to allow for overhead expenses of 28.9% of the selling price and a profit of 19.7% of the selling price. During a sale, the lawnmower is marked down by 36%. What is the sale price?

Answer 1

Particulars	Amt
Cost	751.06
Less: 9%	67.60
Balance	683.46
Less: 19%	129.86
Balance	553.61
Less: 30%	166.08
Net Cost	387.52

Let Selling price is S

Cost + Overheads + Profit = Sales

387.52 + 28.9% x S + 19.7% x S = S

S = 753.93

Current mark-up = 753.93 x 19.7%

= 148.52

Sale Price = 753.93 - 148.52 x (100-36%)

= 658.88