Question

help with SAT math please

jason buys and sells baseball cards to earn extra amoney. he purchased the card of a player who performed so well throughtout the year that jason was able to mark the card up 20% more than what he orginally paid. when he sold the card, he gave one of his good friends a discount of 10% off his already marked up price. what was Jason's percent profit on the card?

Answer 1

let Jason's buying price be 100
20% markup = 20% of 100 = 20
so selling price/marked price = 120
discount if 10% on marked price
discount = 10% 0f 120 = 12
so final selling price is 120 - 12 = 108
so profit = 108-100 = 8

profit percent = 8/100 * 100% = 8%