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| Math Central | Quandaries & Queries |
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Question from taha, a student: A shopkeeper sold a pen for $13.20 to a make a profit 10 percent. In order to earn a profit of 15 percent, he should have sold it for? |
Taha,
Suppose the shopkeeper's cost for a pen is $C. To calculate the profit at 10% he multiplied $C by 0.10 to find the profit and then added it to $C to arrive at $13.20. So his calculation was
$C + 0.10 × $C = 1.10 × $C = $13.20.
Solve this equation for $C and then recalculate the selling price, this time using 15% rather than 10%.
I hope this helps,
Penny
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