Question

1. a store bought shirts for $5.75 each. if they want to make 65% profit on selling them what should the selling price be?

Explanation:

Step1: Understand the formula for selling price with profit

The selling price \( S \) when there is a profit percentage \( p \) on the cost price \( C \) is given by \( S = C\times(1 + \frac{p}{100}) \). Here, the cost price \( C=\$5.75 \) and the profit percentage \( p = 65\% \).

Step2: Substitute the values into the formula

First, convert the profit percentage to a decimal: \( \frac{65}{100}=0.65 \). Then, calculate \( 1 + 0.65 = 1.65 \). Now, multiply the cost price by this factor: \( S=5.75\times1.65 \).

Step3: Perform the multiplication

\( 5.75\times1.65 = 5.75\times(1 + 0.6 + 0.05)=5.75\times1+5.75\times0.6 + 5.75\times0.05=5.75 + 3.45+0.2875 = 9.4875 \).

Answer:

The selling price should be \(\$9.49\) (rounded to the nearest cent) or \(\$9.4875\) (exact value).