SOLUTION: A store marks up items to make 89% profit. If an item costs $3.50 from the supplier, what will the price be?

SOLUTION: A store marks up items to make 89% profit. If an item costs $3.50 from the supplier, what will the price be?

Algebra.Com

Question 101675: A store marks up items to make 89% profit. If an item costs $3.50 from the supplier, what will the price be?
Answer by Fombitz(32388) (Show Source): You can put this solution on YOUR website!
Store Cost + Profit = Customer Cost
Store Cost + 0.89*(Store Cost) = Customer Cost
1.89*(Store Cost) = Customer Cost
Customer Cost = 1.89*($3.50)
Customer Cost = $6.62 (rounded up from 6.615).
RELATED QUESTIONS
A store marks up merchandise 40% for profit. If an item costs the store $12, what is the (answered by Amily_2190)

Mr. Lee of Red River Consumer Products in Winnipeg is considering a new product for his... (answered by ikleyn)

Mr. Lee of Red River Consumer Products in Winnipeg is considering a new product for his... (answered by ikleyn)

Mr. Lee of Red River Consumer Products in Winnipeg is considering a new product for his... (answered by ikleyn)

Smalltown Electronics buys MP3 players from its supplier for a price of $200 each. The... (answered by nirajkashyap)

A FURNITURE STORE MARKS UP ITEMS 20% (BASED ON COST). IF THE FURNITURE STOR BUYS A COUCH... (answered by checkley71)

please help. A furniture store marks up items 20%(based on cost). It the furniture... (answered by 303795)

a retailer employs a pricing scheme where the ticketed price of items in the store is... (answered by stanbon)

Cost, Revenue & Profit For these problems, x will represent the number of items and y... (answered by CPhill)