Question

Mr. Lee bought 260 shirts for $3 075. (a) How much, to the NEAREST cent did he pay for EACH shirt? (b) Mr. Lee sold the shirts at $19.99 EACH. Calculate the profit on EACH shirt. (c) Calculate the profit in (b) above as a percentage of the cost price of the shirt. (d) For how much, to the NEAREST cent, should Mr. Lee sell a shirt to make a profit of 45%

Answer 1

Answer:

Cost of one shirt is 3075/260 = 11.83

so, $11.83 is cost price.

=> profit on one shirt is $19.99 - $11.83 = $8.16

so, (8.16/11.83) x 100

=> 69% profit

Then, [(s - 11.83)/11.83[ x 100 = 45

=> (s - 11.83)/11.83 = 0.45

so, s - 11.83 = 5.32

=> s = 5.32 + 11.83

so, he should sell shirts for $17.15 to make 45% profit

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Step-by-step explanation: