Answered

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?

Verified Answer :

SchooledBoy

They sell each box of cards for 3.90$

dsdrajlin

Answer:

$3.90

Step-by-step 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.

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

\(30\%=\frac{Sales\ Price - \$ 3}{\$ 3} \times 100\%\\0.30 =\frac{Sales\ Price - \$ 3}{\$ 3}\\\$0.90 = Sales\ Price - \$ 3\\Sales\ Price = \$3.90\)

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