Billy buys guitars for 20% less than the price he normally sells them for. When he reduces the price and puts them on sale for $1,000, he only makes 12% of this sales price as profit. What percentage discount from his normal price is Billy offering during the sale?
Added by Mussie W.
Step 1
Since Billy makes a 12% profit on the sales price of $1,000, we can find the cost price as follows: Cost price = Sales price - Profit Cost price = $1,000 - (12% of $1,000) Cost price = $1,000 - $120 Cost price = $880 Show more…
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