SOLUTION: Newman's department store buys sweaters for $22.50 and sells them at a 30% mark up. How many sweaters must be sold to make a profit that is no less than $1,000?
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Question 908893: Newman's department store buys sweaters for $22.50 and sells them at a 30% mark up. How many sweaters must be sold to make a profit that is no less than $1,000? Answer by JulietG(1812) (Show Source):
You can put this solution on YOUR website! How much do they make on each sweater?
22.50 * 30% = $6.75 profit on each sweater (so they're selling them for $29.25 each)
1000 / 6.75 = 148.148
They can't sell 148 and a portion of a sweater, so they need to sell 149 sweaters.
149 * 6.75 = $1005.75
