A retailer has some candle sets that cost her $30. If she sells them for $36.60, find her rate of profit based on the cost.
2006-11-06 07:34:52 · 8 answers · asked by Me 6 in Science & Mathematics ➔ Mathematics
Math still but different kind of problem
Use the formula to reach a solution for the following problem.
Find the annual interest rate if $2632.00 in interest is earned when $3290 is invested for 8 years
2006-11-06 07:40:59 · update #1
36.6-30=6.6 Profit
6.6/30= 22% profit.
2006-11-06 07:38:04 · answer #1 · answered by ciza29 3 · 0⤊ 1⤋
Rate of profit = difference in costs divided by the cost of the candle set.
Difference in costs = 36.60-30 = 6.60
Then divide by the cost of the set.
6.60/30
Once you get that answer you will multiply by 100 to change your decimal answer to a percent.
Hope this helps. :)
2006-11-06 15:38:00 · answer #2 · answered by SmileyGirl 4 · 0⤊ 2⤋
$6.60 per set
Cost=Sale price - Cost
=$36.60 - $30.00=$6.60
The profit per set is $6.60 and this is the rate.
___________________________
Let p= annual rate and n = year
The total = principal times the sum of p raised to the power on as n goes from 0 to 8
Then
(2632 + 3290)/3290=1+p+p^2+p^3+p^4+p^5+p^6+p^7+p^8
Now just solve for p.
2006-11-06 15:37:10 · answer #3 · answered by Edward 7 · 0⤊ 3⤋
36.60 - 30 = 6.60
6.60 = x/100 (30)
2006-11-06 15:37:51 · answer #4 · answered by a_blue_grey_mist 7 · 0⤊ 2⤋
Well, she made a profit of 6.60, right? So now you need to find out what percentage of 30 is 6.60...
X * 30 = 6.60
solve for X
2006-11-06 15:37:26 · answer #5 · answered by Anonymous · 0⤊ 2⤋
100(36.60-30)/30 = 22%
2006-11-06 15:36:40 · answer #6 · answered by ? 7 · 0⤊ 3⤋
Do bereavement mean that a definition request a certain shove?
2006-11-06 15:39:09 · answer #7 · answered by Anonymous · 0⤊ 1⤋
21% profit.
2006-11-06 15:39:31 · answer #8 · answered by happytraveler 4 · 0⤊ 2⤋