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A trader bought a consignment at a purchase price of $800 and sold it

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A trader bought a consignment at a purchase price of $800 and sold it [#permalink] New post   10 Oct 2023, 23:51
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A trader bought a consignment at a purchase price of $800 and sold it for 20% less than the marked price. If the trader made a profit equivalent to 30% of the purchase price, what was the marked price of the consignment?

(A) $1,000
(B) $1,200
(C) $1,300
(D) $1,350
(E) $1,500

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Re: A trader bought a consignment at a purchase price of $800 and sold it [#permalink] New post   11 Oct 2023, 02:10
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Purchase price =800

Marked up price =x

Profit =30% of purchase price

Profit =Revenue - Expense

0.3(800)=0.8x - 800

240+800 =0.8x

x =1040/0.8

x =1300
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Re: A trader bought a consignment at a purchase price of $800 and sold it [#permalink]
11 Oct 2023, 02:10
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