Carcass wrote:
A manufacturer purchased an item at 30% less than its production cost and sold the item at a price that was 17 greater than what the manufacturer paid for it. The price at which the manufacturer sold the item was what percent of the item's production cost?
20%
30%
70%
80%
90%
Let the production price be
pThen, Buying price =
0.7pAnd, Selling price =
87(0.7p)=4p5=0.8pClearly, Selling price
80% of the Production price
Hence, option D
You can also assume some numbers;Let the production price be
100Then, Buying price =
70And, Selling price =
87(70)=80Clearly, Selling price
80% of the Production price