Answer:
(a) $3.00
(b)(i) $33.00
(b)(ii) $322.50
Explanation:
(a)
100% = $20.00
1% = 100%/100 = 20/100 = $0.20
15% = 1%×15 = 0.2×15 = $3.00
so, he actually has to pay $20 + $3 = $23 per toaster.
or shorter and direct, since we calculate the extra 15% based on the original 100%, we can say he has to pay 115% of the basic price.
115% = 0.2×115 or = 100%×1.15 = 20×1.15
0.2 × 115 = $23
20 × 1.15 = $23
so, you can see the several ways to get to the result.
in any case, the profit is $26-$23 = $3 per toaster.
(b)(i)
100% new price = 100% old price + 20% = 120% old price
or 100% old price × 1.2
100% new price per toaster = 20×1.2 = $24.00
the new tax is increased TO 25% (not by 25%) be careful to see that detail.
so, we need to add 25% of the new price.
125% new price = 24×1.25 = $30.00
so, in order to make again $3 profit, the customer has to pay now $30+$3 = $33.00
(b)(ii)
100% (b)(i) selling price = $33.00
30% more means 130% of that, or 1.3×100%
33×1.3 = $42.90
so, the profit per toaster is now 42.90 - 30 = $12.90
when selling 25 of these toasters the profit is then
25×12.90 = $322.50