Question

Some students are raising money by selling greeting cards. They buy the cards for $3 a box and then mark up the price by 30%. For how much do they sell each box of cards?

Answer 1

They sell each box of cards for 3.90$

Answer 2

Answer:

$3.90

Step-by-step explanation:

The markup is the difference between the Sales Price of the box of cards and its Unit Cost. It is expressed as a percentage above the cost, through the following expression.

$Markup\ Percentage = \frac{Sales\ Price - Unit\ Cost}{Unit\ Cost} \times 100\%$

Given the Markup Percentage is 30% and the Unit Cost is $3, the Sales Price is:

$30\%=\frac{Sales\ Price - \ 3}{\ 3} \times 100\%\\0.30 =\frac{Sales\ Price - \ 3}{\ 3}\\\ 0.90 = Sales\ Price - \ 3\\Sales\ Price = \ 3.90$