A jewellery store purchased a diamond ring for $2,500 less 40% and 5%. The "regular price" of the ring is established so that, if it is sold in a "20% off" sale, overhead expenses amounting to 20% of the sale price and unit operating profit amounting to 12.5% of the sale price will be covered.
a) What is the reduced price of the ring in a "20% off" sale?
b) What is the "regular price" of the ring?

Question

Quizplus · Accepted Answer

The Answer of A jewellery store purchased a diamond ring for $2,500 less 40% and 5%. The "regular price" of the ring is established so that, if it is sold in a "20% off" sale, overhead expenses amounting to 20% of the sale price and unit operating profit amounting to 12.5% of the sale price will be covered.
a) What is the reduced price of the ring in a "20% off" sale?
b) What is the "regular price" of the ring?

A Jewellery Store Purchased a Diamond Ring for $2,500 Less