Question

You are in the buy and sell business. find out the wholesale price of an item (e.g. t-shirt, soap,toy) suppose you buy 24 pieces of that item at wholesale price. atleast at what price should you tell each item to have a 25% profit? how much will be your total profit in pesos from these items?

With explanation please!!

Answer 1

The wholesale price isn't given, suppose the wholesale price is $5

Answer:

$6.25 ; 1441.8 pesos

Explanation:

Number of items purchased = 24

Wholesale price of item = x

To obtain a 25% profit, the sales price would be :

Wholesale price = wholesale price + 25% of wholesale price

(x = x + 0.25x) per unit

For 24 items :

24x + 0.25 * 24x

Unit wholesale price = 5

24(5) + 0.25*24(5)

= $150

Hence, sale price per unit will be :

$150 / 24

= $6.25

Total profit in pesos :

1 dollar = 48.06 pesos

Total profit = $150 - 24(5) = $150 - $120 = $30

$30 = (30 * 48.06) = 1441.8 pesos