Math Problem Statement
A department store paid $37.52 for a wine set. Overhead expense is 14 % of the regular selling price and profit is 10 % of the regular selling price. During a clearance sale, the set was sold at a markdown of 18 %. What was the operating profit or loss on the sale?
Solution
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Math Problem Analysis
Mathematical Concepts
Algebra
Percentages
Profit and Loss
CostPrice and SellingPrice Analysis
Formulas
Cost Price = Regular Selling Price  (Overhead + Profit)
Clearance Sale Price = Regular Selling Price  (Markdown Percentage × Regular Selling Price)
Operating Profit or Loss = Clearance Sale Price  (Cost Price + Overhead Expense)
Theorems

Suitable Grade Level
Grades 912
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