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Shopkeeper offering you relative to the importer price

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You travel to Egypt with your friend, and in the bazaar you see a locally-made shirt that you would like to buy. The shopkeeper tells you that he is going to give you a good deal and sell you the shirt at 200 Egyptian pounds. Your friend tells you that an importer back in the US sells the same shirt at $28. You know that the exchange rate is 8 Egyptian pounds per US dollar. How much of a discount is the shopkeeper offering you relative to the importer's price? (answer in US dollars)

Reference no: EM132022375

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