Question

Solve using the five-step method.41 In her gift shop, Cheryl sells all stuffed animals for60% more than what she paid her supplier. If one ofthese toyssells for $14.00 in her shop, what did itcost Cheryl #41

Answer 1

Given:

The percentage increase in the selling price than the cost price, r=60%.

The selling price of a toy, y=$14.

1)Read

First, we read the problem carefully.

2)Define variable.

Let x be the cost price of the toys.

3)Translate

Restate the problem into one sentence and then translate it into an equation.

The selling price, $14, is 60% more than the cost price or the amount paid by Cheryl.

`\begin{gathered} 14=(100+60)/(100)* x \\ 14=(160)/(100)x\text{ ---(1)} \end{gathered}`

4)Solve

Solve equation.

First write the equation.

`14=(160)/(100)x`

Multiply both sides by 100/160.

`14*(100)/(160)=(160)/(100)x*(100)/(160)`

Simplify.

`8.75=x`

5) Check

We got the cost price, x=$8.75.

To check whether the answer is correct or not, let us check if selling price $14 is 60% more than $8.75.

`8.75*(160)/(100)=14`

Since selling price $14 is 60% more than $8.75, it is confirmed that the cost price is $8.75.