Mario's Wholesale Pastas sells pasta to restaurants. Mario buys from a company that offers a 40% trade discount. Mario sells to his retail customers at a 25% discount. One type of pasta lists for $17.80 for 20 pounds. What is Mario's profit on this item?
$2.67;
List price is $17.80; Mario pays $17.80 × 0.4 = $7.12; $17.80 - $7.12 = $10.68;
$17.80 × 0.25 = $4.45; $17.80 - $4.45 = $13.35; Mario pays $10.68 and sells for $13.35, so his profit is $13.35 - $10.68 = $2.67.
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