Question

If a computer costs $500, what price should the store manager price the computer if he wants to make a profit of 60% of the selling price.
How do I set up an algebraic equation and solve this?Thanks so much for your help!

Answer 1

The cost price of computer=500 dollar

The store manager need a profit of 60%

So the profit amount here=60% of 500=500×$\frac{60}{100}$ =300

So the store manager should put the price tag=cost price + profit=500+300=800 dollars (Answer)