Two years ago a company purchased 500 dozen pencils at 40 cents per dozen. This
year, only 75% as many pencils were purchased as were purchased two years ago, but
the price was 20% higher than the old price. What was the total cost of pencils
purchased by the company this year?

First you have to find out how many pencils the company bought each year which is 6000 since they bought 500 dozens and 75% of 500 is 375 and 20% of 0.40 is 0.08 so the cost for each dozen pencils would be 180$ (Sorry if this is wrong I'm 80% sure)

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Two years ago a company purchased 500 dozen pencils at 40 cents per dozen. This year, only 75% as many pencils were purchased as were purchased two years ago, but the price was 20% higher than the old price. What was the total cost of pencils purchased by the company this year?

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Two years ago a company purchased 500 dozen pencils at 40 cents per dozen. This
year, only 75% as many pencils were purchased as were purchased two years ago, but
the price was 20% higher than the old price. What was the total cost of pencils
purchased by the company this year?