SOLUTION: Leonard has purchased packages of grid paper for $2.25. If he wants to make a 40% profit on each package he sells to his classmates, by how much should he increase the price? What

Algebra ->  Finance -> SOLUTION: Leonard has purchased packages of grid paper for $2.25. If he wants to make a 40% profit on each package he sells to his classmates, by how much should he increase the price? What       Log On


   

Question 879498: Leonard has purchased packages of grid paper for $2.25. If he wants to make a 40% profit on each package he sells to his classmates, by how much should he increase the price? What will the new price be?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
2.25*0.40=$0.90
2.25+0.90=$3.15