Damsels clothing store orders a line of jeans at a suggested retail price of $78, less trade discounts of 30% and 7%. The manager decides to sell the jeans at a selling price that is 100% markup on cost. 6 marks

a. If overhead is 50% of the cost price, what will be the operating profit on each pair of jeans?

b. What is the advertised discount on the regular selling price for an inventory clearance sale that guarantees a profit of $12 per pair of jeans?

Answers should be to nearest cent and nearest whole percent.