Question

A store buys a shirt from the vendor for $15. The store makes a 55% profit when the shirt is sold to a customer. What is the retail price of the shirt?

Answer 1

$23.25

Explanation:

Step one:

given data

A store buys a shirt from the vendor for $15

The store makes a 55% profit

Required

The sale price of the shirt

Step two:

Percent profit= sale-cost price/cost price *100

subtitute

55= sale-15/15 *100

0.55= sale-15/15

cross multiply

sale-15= 0.55*15

sale-15=8.25

sale= 8.25+15

sale=$23.25