Question

steps for completion

1. ben owns a shoe store. he has a new line of limited - edition running shoes that he will be selling in his store soon. the cost of manufacturing the shoes was $18 per pair, and he wants to make a 20% profit on each pair he sells. what is ben’s selling price?

a.

1. adam owns a restaurant. a new dish is being added to the restaurant’s menu. the cost of making the dish is $6.75, and he wants to make a 33% profit on each dish he sells. what is adam’s selling price?

a.

1. cory owns a home goods store. he is about to add a new line of candles to his store. the cost of manufacturing the candles is $8.46 per candle, and he wants to make a 52% profit on each candle. what is cory’s selling price?

a.
4.1.1 determine the selling price of a product or service

Explanation:

Step1: Calculate selling price for Ben

Selling price = Cost price + Profit. Profit is \(20\%\) of cost price. Cost price \(C = 18\). Profit \(P=0.2\times18\).
Selling price \(S = 18+0.2\times18=18\times(1 + 0.2)\)

$$S=18\times1.2 = 21.6$$

Step2: Calculate selling price for Adam

Cost price \(C = 6.75\). Profit is \(33\%\) of cost price. Profit \(P = 0.33\times6.75\).
Selling price \(S=6.75+0.33\times6.75=6.75\times(1 + 0.33)\)

$$S=6.75\times1.33=9.0$$

(rounded to one decimal place)

Step3: Calculate selling price for Cory

Cost price \(C = 8.46\). Profit is \(52\%\) of cost price. Profit \(P=0.52\times8.46\).
Selling price \(S=8.46+0.52\times8.46=8.46\times(1 + 0.52)\)

$$S=8.46\times1.52 = 12.86$$

(rounded to two decimal places)

Answer:

1. \(21.6\)
2. \(9.0\)
3. \(12.86\)