900 bags of onions were purchased at $2.51 per bag. the desired markup is 47% based on selling price, but…

Explanation:

Step1: Let the selling price per bag be $x$.

Let the number of bags purchased be $n = 900$. The cost of purchasing all bags is $C=2.51\times900$.

Step2: Consider the spoilage.

The number of bags available for sale is $(1 - 0.20)n=0.8n$. The total cost of purchasing the bags needs to be covered by the revenue from the non - spoiled bags. The cost of purchasing the bags is $2.51\times900$. The revenue from selling the non - spoiled bags is $0.8nx$.

Step3: Use the markup formula.

The markup is 47% based on the selling price. So the cost per non - spoiled bag is $(1 - 0.47)x$. The cost of purchasing all 900 bags is $2.51\times900$, and the number of bags available for sale is $0.8\times900$. We have the equation: $2.51\times900=0.8\times900\times(1 - 0.47)x$. First, cancel out 900 on both sides of the equation: $2.51 = 0.8\times0.53x$.

Step4: Solve for $x$.

$0.8\times0.53x=2.51$. $0.424x = 2.51$. $x=\frac{2.51}{0.424}\approx5.92$.

Answer:

$5.92$