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 Test: 20

Answer

She should charge 52 dollars for each lamp.

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 = 40 Profit = 30% $\times$ 40 = .3 $\times$ 40 = 12 Substitute these values into the equation to obtain: s = 40 + 12 s = 52 She should charge 52 dollars for each lamp.
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