Question

Some students are raising money by selling greeting cards. They buy the cards for $3 a box and then mark up the price by 30%. For how much do they sell each box of cards?

Answer 1

They sell each box of cards for 3.90$

Answer 2

$3.90

Explanation:

The markup is the difference between the Sales Price of the box of cards and its Unit Cost. It is expressed as a percentage above the cost, through the following expression.

`Markup\ Percentage = (Sales\ Price - Unit\ Cost)/(Unit\ Cost) * 100\%`

Given the Markup Percentage is 30% and the Unit Cost is $3, the Sales Price is:

`30\%=(Sales\ Price - \$ 3)/(\$ 3) * 100\%\\0.30 =(Sales\ Price - \$ 3)/(\$ 3)\\\$0.90 = Sales\ Price - \$ 3\\Sales\ Price = \$3.90`