Question

The snack bar at the school purchases water bottles at wholesale and then marks them up to make a profit. It marks up the water bottles by 33 and one-third percent, an amount of $0.28.

Percents
Total
33One-third%
33One-third%
33One-third%
100%
$0.28
$0.28
$0.28


What was the wholesale price of each water bottle?
$0.56
$0.84
$0.93
$1.12

Answer 1

To determine the wholesale price of each water bottle, we can use the markup percentage given and the dollar amount associated with it.

1. **Understand the markup**: The snack bar marks up the water bottles by \(33 \frac{1}{3}\%\). This can also be expressed as a fraction:
\[
33 \frac{1}{3}\% = \frac{1}{3} \text{ or } 0.3333
\]

2. **Set up the equation**: If \( x \) is the wholesale price, the markup in dollars is \( \frac{1}{3}x \). According to the problem, this markup amounts to $0.28. Therefore, the equation can be set as:
\[
\frac{1}{3}x = 0.28
\]

3. **Solve for \( x \)**:
\[
x = 0.28 \times 3 = 0.84
\]

Thus, the wholesale price of each water bottle is \( \boxed{0.84} \).