When sold at a 70% discount, a sweater nets the merchant a 40% profit on the wholesale cost at which he initially purchased the item. By what % is the sweater marked up from wholesale at its normal retail price? Choose the correct choice from the following answers:	A) 20%	B) 40%	C) 50%	D) 60%	E) 78.58%
we should be careful about what are we measuring % on/what is the base..   let the Marked up price =100..   Selling price= 100-70%of 100=30..   profit= 40%..   therefore the wholesale purchase cost= x.... 1.4x=30   or x=21.42...   marked price was 100 so ...   so answer is 78.58%..   78.58%
<result>E</result>
When sold at a 70% discount, a sweater nets the merchant a 40% profit on the wholesale cost at which he initially purchased the item. By what % is the sweater marked up from wholesale at its normal retail price?