SOLUTION: Michelle, a product buyer for t and c market purchased 500 pounds of grapes for .39 cents per pound. She estimates that approximately 5% of the grapes will spoil before they are so

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Question 1020771: Michelle, a product buyer for t and c market purchased 500 pounds of grapes for .39 cents per pound. She estimates that approximately 5% of the grapes will spoil before they are sold. If the market requires a 60% markup on cost, at what price per pound must the grapes be sold?
Answer by josgarithmetic(39838) About Me  (Show Source):
You can put this solution on YOUR website!
The cost for the entire 500 pounds grapes is 500%2A%280.39%29%2Adollars=195%2Adollars. The result of the 60% markup ON THE COST would be revenue 195%2A%281.60%29=312%2Adollars.

Five percent of the grapes expected to spoil, so only 0.95%2A500=475%2Apounds to be sold.

PRICE NEEDED:
312 dollars, 475 pounds,
%28312%2F475%29%28dollars%2Fpound%29=highlight%280.66%2A%28dollars%2Fpound%29%29