SOLUTION: A retailer purchases 700 pounds of carrots at a price of $0.30 per pound. The retailer expects that 8% of the carrots will be spoiled before he is able to sell them. The retailer w

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Question 168919: A retailer purchases 700 pounds of carrots at a price of $0.30 per pound. The retailer expects that 8% of the carrots will be spoiled before he is able to sell them. The retailer would like a markup of 40% based on the cost. What price per pound should the retailer charge? Show your work
Answer by jojo14344(1513) About Me  (Show Source):
You can put this solution on YOUR website!
Sell=cost%2B0.40%28cost%29 -----> 40% markup on cost
Sell=0.30%2B0.40%280.30%29
Sell=0.30%2B0.12
highlight%28Sell=0.42%2Flb%29
.
"The retailer expects that 8% of the carrots will be spoiled before he is able to sell them." ----> this seems irrelevant to the problem????
.
Thank you,
Jojo