Math problem

periodic

A merchant purchased a jacket for $60 and then determined a selling price that equalled the purchase price of the jacket plus a markup that was 25 percent of the selling price. During a sale, the merchant discounted the selling price by 20 percent and sold the jacket. What was the maerchant's gross profit on this sale?

The answer is $4.00. Would anyone explain it for me? Thanks!

periodic

解答的真详细，谢了！！！

liuliyun

(1)purchased price=60

(2)selling price=purchased price+0.25*selling price
X=60+0.25*X
0.75X=60
X=80
得出selling price=80

(3)during a sale, the merchant discounted the selling price by 20 percent and sold the jacket 得出 sale price=0.8*80=64

(4)profit=64-60=4