Asked by kay
a ring retails for 39.95. the jewelry store received the ring with a built in 30% profit. What is the cost?
Answers
Answered by
MathMate
The profit should be a percentage of the cost. This way 39.95 represents the cost + 30% of the cost. Therefore
cost = 39.95/(1+0.30)
=$30.73
cost = 39.95/(1+0.30)
=$30.73
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