Elementary Algebra

Published by Cengage Learning
ISBN 10: 1285194055
ISBN 13: 978-1-28519-405-9

Chapter 4 - Proportions, Percents, and Solving Inequalities - Chapter 4 Review Problem Set: 49

Answer

The price should be 40 dollars.

Work Step by Step

Let s represent the selling price. The basic relationship is: selling price equals cost plus profit. Selling price = Cost + Profit Selling price = s Cost = 28 Profit = 30% of the selling price = 30% $\times$ s = 0.3s So, s = 28 + 0.3s 0.7s = 28 Divide both sides by 0.7 s = 40 The price should be 40 dollars.
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