Question

3 friends share the cost of a gift. The gift costs $70, but the store manager takes $10 off the market price. What amount should they each pay? What is the answer

Answer 1

Amount each friend pays for the gift = $20

Explanation:

Market price of a gift = $70

The store manager takes $10 off the market price.

Marked down amount = $10

New cost price = Marked price - Marked down amount
`=\$70-\$10=\$60`

The cost of the gift is divided among three friends.

This means that the cost of gift which is $60 is divided by three to get each one's contribution in the gift.

∴ Amount each friend pays for the gift
`=(60)/(3)=\$20`