I keep coming up with the answer $.69 but the answer sheet says $.57. Can anyone help me with this problem? Thank you.

Rosemary

- Thread starter roserrah
- Start date

I keep coming up with the answer $.69 but the answer sheet says $.57. Can anyone help me with this problem? Thank you.

Rosemary

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- Jun 18, 2007

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- 24,744

Please show us some work indicating exactly where you are stuck - so that we would know where to begin to help you.roserrah said:

I keep coming up with the answer $.69 but the answer sheet says $.57. Can anyone help me with this problem? Thank you.

Rosemary

purchase price = 500 * .28 = 140 ; so he's paying $140 for 450 (10% will waste) pounds of sellable bananas.

He wants a 45% profit (yes?), so wants to sell these 450 pounds for 140 * 1.45 = $203

So the price per pound = 203 / 450 = .4511111.... or 45 cents.

What the Hades is "a markup of 45% on the selling price" :shock:

- Joined
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"a markup of 45% on the selling price" means the selling price has these two parts:

-------------- 45% profit (markup)

-------------- 55% wholesale and other costs

Buy a pound: $0.28

Discard 10%: $0.28/0.90 = $0.3111111111

This is 55% of the selling price: ($0.28/0.90)/0.55 = $0.56666666

How's that for 57¢?

Notice how I didn't care how many pounds were purchased.