12 mark for review a gift shop buys souvenirs at a wholesale price of 7.00 dollars each and resells them…

12 mark for review a gift shop buys souvenirs at a wholesale price of 7.00 dollars each and resells them each at a retail price that is 290% of the wholesale price. at the end of the season, any remaining souvenirs are marked at a discounted price that is 80% off the retail price. what is the discounted price of each remaining souvenir, in dollars? answer preview: show keypad

12 mark for review a gift shop buys souvenirs at a wholesale price of 7.00 dollars each and resells them each at a retail price that is 290% of the wholesale price. at the end of the season, any remaining souvenirs are marked at a discounted price that is 80% off the retail price. what is the discounted price of each remaining souvenir, in dollars? answer preview: show keypad

Answer

Explanation:

Step1: Calculate the retail price

The retail price is 290% of the wholesale price. The wholesale price is $7. So the retail price is $7\times2.9 = 20.3$ dollars.

Step2: Calculate the discounted price

The discounted price is 80% off the retail price, which means the customer pays 20% of the retail price. So the discounted price is $20.3\times0.2=4.06$ dollars.

Answer:

4.06