Question

A gift shop buys greeting card $3.50 each and sells them at 80% mark up. At what price dose the gift shop sell each greeting card? Practice 6.5 -Percent of change

Answer 1

$6.30

Explanation:

The 100% of cost is $3.50. The greeting cards are mocked up 80%. This means the customers pay 100% and 80% so 180%. To find the new price, create a proportion of equal ratios:

`(x)/(3.50) =(180)/(100)`

Solve for x through cross multiplying:

3.50(180) = 100(x)

630 = 100x

6.30=x