1953 AHSME Problems/Problem 16
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Problem 16
Adams plans a profit of on the selling price of an article and his expenses are of sales. The rate of markup on an article that sells for is:
Solution
Let the cost of the product be C, and the selling price be S. Since Adams wants a 10% profit on the sale, and his expenses are 15% of the sale, we add and to the cost to get the selling price. Then, .
See Also
1953 AHSC (Problems • Answer Key • Resources) | ||
Preceded by Problem 15 |
Followed by Problem 17 | |
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