Question

Shaniqua's restaurant utilizes a product cost percentage pricing system. What should be the selling price for a steak dinner she sells if her total plate cost for the dinner is $7.00 and her desired product cost is 25%?

A. $28.00
B. $3.57
C. $10.00
D. $35.71

Answer 1

option (A) $28.00

Step-by-step explanation:

Data provided in the question:

Total cost of Shaniqua's plate = $7.00

Desired product cost = 25%

Now,

Let the selling price for a steak dinner be 'x'

therefore,

[(Total cost of plate) ÷ (Selling price)] × 100% = 25%

or

[ $7 ÷ x] = 0.25

or

or

x = $7 ÷ 0.25

or

x = $28

Hence,

correct answer is option (A) $28.00