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If a calendar costs $15 and the seller wants a 30% profit, what should be the se

Practice Questions

Q1
If a calendar costs $15 and the seller wants a 30% profit, what should be the selling price?
  1. $19.50
  2. $20
  3. $18
  4. $17

Questions & Step-by-Step Solutions

If a calendar costs $15 and the seller wants a 30% profit, what should be the selling price?
  • Step 1: Identify the cost of the calendar, which is $15.
  • Step 2: Calculate the profit by finding 30% of the cost. To do this, multiply the cost by 0.30 (which is 30% in decimal form).
  • Step 3: Perform the calculation: 15 * 0.30 = 4.5. This means the profit is $4.50.
  • Step 4: Add the profit to the cost to find the selling price. So, $15 (cost) + $4.50 (profit) = $19.50.
  • Step 5: The selling price of the calendar should be $19.50.
  • Cost Price – The initial price at which the calendar is purchased, which is $15.
  • Profit Calculation – Calculating profit as a percentage of the cost price, in this case, 30% of $15.
  • Selling Price – The final price at which the item is sold, calculated by adding profit to the cost price.
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