document.write( "Question 733611: A retailer has some Easter bastkets that cost him $10 each. He wants to sell them to make a profit of 40% of the selling price. What price should he charge for the Easter baskets? (You must set up an equation and solve to receive credit) \n" ); document.write( "

Algebra.Com's Answer #448525 by KMST(5328) $\"\"$ $\"About$

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With a price of $ $\"x%29%29%29+the+profit+for+each+basket+%28in+%24%29+would+be%0D%0A%7B%7B%7Bx-10%29\"$
\n" ); document.write( "For that to be 40% (or 0.40) of $ $\"x\"$ it would have to satisfy the equation
\n" ); document.write( " $\"x-10=0.4x\"$
\n" ); document.write( " $\"x-10=0.4x\"$ --> $\"x-0.4x=10\"$ --> $\"0.6x=10\"$ --> $\"x=10%2F0.6\"$
\n" ); document.write( "An approximate value would be $\"x=16.6667\"$ but we have to round to $16.67, that would give the retailer a profit of $6.67 per basket, which as a fraction of the selling price is
\n" ); document.write( " $\"6.67%2F166.67=667%2F1667=about0.40012\"$ (rounded)
\n" ); document.write( "meaning a profit of 40.012% of the selling price.
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