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.

Question

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 \( \boxed{0.84} \).