A store’s selling price of $2,240 for a certain computer would yield a profit of 40 percent of the store’s cost for the computer. What selling price would yield a profit of 50 percent of the computer’s cost?
$2,400
$2,464
$2,650
$2,732
$2,800
Answer: (2) $2464
I kept getting 2400 as my answer~~~did I misunderstand this question?
Selling price=1.4Cost
cost=2240/1.4
cost=1600
To yield 50% profit=1600*1.5=2400????????? |