Question

A retail store makes k% profit on the selling price. What is the least integer value of k that will enable the store to make a profit of at least 30% of the cost of the item?

Answer 1

Answer: 10

Step-by-step explanation:

The store wants to make a 20% profit:

Multiply the cost of the toy by 1.20 ( cost plus 20%).

6.25 x 1.20 = $7.50

This means when the toy is sold at 25% off, it needs to be $7.50 to make the 20% profit.

When the item is 25% off, that means it would sell for 75% of the original price.

Now to find what the price needs to be before the 25% off divide the profit price by 75%

7.50 / 0.75 = $10

K = $10