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Maths olympiad question · P6★★★ Hard

Percentages and mixtures: olympiad question 8

A hard question on percentages and mixtures for P6, with a step-by-step solution, diagrams and the answer. Common in the Hua Xia Cup's P6 first round and finals: discounts, a rise followed by a fall, and mixtures.

The question

A stationery shop buys in 30 school bags at $240 each, and marks them up 20% on cost.

Before term starts, some sell at the marked price; after term starts, the rest all sell at 25% off (75% of the marked price).

In the end the total profit is 14% of the total cost.

How many school bags sold at the marked price?

Show the hints (3)
  1. Hint 1: First find what each school bag makes (or loses) at each price, then the total profit in dollars.
  2. Hint 2: Suppose all 30 sold at the discount. What would the profit be, and how far is it from the real one?
  3. Hint 3: Each one sold at the marked price instead adds $72; $1728 has to be made up.

Worked solution

Have a go first, then read the solution step by step.

  1. 1.Marked price: 240 × 120 ÷ 100 = $288; at 25% off: 288 × 75 ÷ 100 = $216.
  2. 2.At the marked price each makes 288 − 240 = $48; at the discount each loses 240 − 216 = $24.
  3. 3.Total cost 240 × 30 = $7200; total profit 7200 × 14 ÷ 100 = $1008.
  4. 4.If all 30 sold at the discount: a loss of 24 × 30 = $720, which is 1008 + 720 = $1728 away from the real $1008 profit.
  5. 5.Each one moved from the discount to the marked price adds 288 − 216 = $72: 1728 ÷ 72 = 24.
  6. 6.Check: 24 × 48 − 6 × 24 = $1008 ✓
  7. ⚠️Common mistake: assuming the discounted ones still make money. At 25% off each sells for $216, below the $240 cost — a loss that comes off the profit.

Answer: 24 school bags

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