Question

McKay Company sells lamps and they have decided that they would make the price of their lamps 30% more than what it cost the company to make the lamp. So if the cost to make the lamp was $36.50 what would be the selling price of the lamp?

Answer 1

I believe the answer is $47.50

Answer 2

$47.45

Step-by-step explanation:

Cost of the Lamp = $36.50

Proposed Selling Price = 30% of Cost of Production + Cost of Production = (30/100 X 36.50)+36.50 = 10.95+36.50 = $47.45