SOLUTION: A manufacturer makes an article for $18.50. He sells it to a dealer making a profit of 40% of the cost. The dealer sells the article making 50% profit of her cost. What is the pri

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: A manufacturer makes an article for $18.50. He sells it to a dealer making a profit of 40% of the cost. The dealer sells the article making 50% profit of her cost. What is the pri      Log On

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Question 120102: A manufacturer makes an article for $18.50. He sells it to a dealer making a profit of 40% of the cost. The dealer sells the article making 50% profit of her cost. What is the price charged by the dealer?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let P = profit made by manufacturer
P+=+.4%2A18.5
P+=+7.4
The dealers purchase price is 18.5+%2B+7.4+=+25.9
The dealers profit is .5%2A25.9+=+12.95
The dealers selling price is 25.9+%2B+12.95+=+38.85
The price charged by the dealer is $38.85 answer