Question

The owner of a small store buys coats for $50 EACH.A)SHE SELLS THE COATS For $90 each.what percent of the purchase is selling price?b)The owner increases the sale price the same percent that you found in part a when she buys jackets for $35 and sells them.how many jackets must the owner buy for the total jacket sales to at least $250?EXPLAIN YOUR ANSWER.

Answer 1

A.) What percent of the purchase is the selling price?

Given:

Original/Purchased Price = $50

Selling Price = $90

To be able to determine the percentage of the selling price to the purchased price, we generate this formula,

`\text{ Percentage =}\frac{S\text{elling Price}}{Purchased\text{ Price}}\text{ x 100}`

We get,

`\text{ Percetage = }\frac{\text{ \$90}}{\text{ \$50}}\text{ x 100 = 1.8 x 100 = 180 \%}`

Therefore, She sells the coats for 180% of the original price. She increases the sale price by 80%.

B.) How many jackets must the owner buy for the total jacket sales to at least $250?

Given:

Original/Purchased Price = $35

Target Sale = $250 Dollar

Rate of price increase = 180%

To be able to determine how many jackets the owner must sell to earn at least $250, we generate this formula,

`\text{ No. of Jacket to Sell = }\frac{Target\text{ Sale}}{(Ori\text{ginal Price)(Percentage of Increase/100)}}`

Let's substitute the values of the given to the formula to be able to determine the No. of Jackets the seller must at least sell.

`\text{ No. of Jacket to Sell = }\frac{\text{ \$250}}{(\text{\$35)(180\%/100)}}\text{ = }\frac{\text{ \$250}}{\text{ (\$35)(1.80)}}`
`\text{ = }\frac{\text{ \$250}}{\text{ \$63}}=\text{ 3.96 }\cong4`

Therefore, the seller must buy at least 4 jackets to have total sales of at least $250.