Question

The school store received a shipment of notebooks and pens. There are 10 cartons of notebooks and 25 boxes of pens. Each carton of notebooks costs $72 and contains 48 notebooks. Each box of pens costs $12.60 and contains 36 pens. The school wants to make a 10% profit.

question What is the cost of one notebook? What amount must be added on to the notebook's cost to account for a 10% markup? What will be the retail price (price the school is charging) for the notebook?

Answer 1

cost of one notebook: 72/48 = $1.50

10% mark up = $1.50 x 0.10 = 0.15 cents

retail price = $1.65

Explanation: