Question

Leonard has purchased packages of grid paper for $2.25. If he wants to make a 40% profit on each package he sells to his classmates, by how much should he increase the price? What will the new price be?

Answer 1

Answer: $3.15

Step-by-step explanation: 40 percent of $2.25 is $0.90

$0.90 + $2.25 = $3.15

Answer 2

Answer: glhe should increase the price by $0.9 and the new price would be $3.15

Explanation:

The amount at which Leonard purchased each package of grid paper is $2.25.

If he wants to make a 40% profit on each package he sells to his classmates, then the amount by which he should increase the price for each package of grid paper is

40/100 × 2.25 = 0.4 × 2.25 = $0.9

Therefore, the new price for each package of grid paper would be

2.25 + 0.9 = $3.15