to ensure profits, a store is going to sell a sweater for 115 percent of the production cost. it costs $10…

to ensure profits, a store is going to sell a sweater for 115 percent of the production cost. it costs $10 to make the sweater. below are the calculations for finding the selling price. what mistake did the store owner make? (original cost)(percent) = new cost ($10)(0.115) = $1.15 the new cost is correct. the owner should have divided by 0.115. the owner should have multiplied by 11.5. the owner should have multiplied by 1.15.

to ensure profits, a store is going to sell a sweater for 115 percent of the production cost. it costs $10 to make the sweater. below are the calculations for finding the selling price. what mistake did the store owner make? (original cost)(percent) = new cost ($10)(0.115) = $1.15 the new cost is correct. the owner should have divided by 0.115. the owner should have multiplied by 11.5. the owner should have multiplied by 1.15.

Answer

Explanation:

Step1: Convert percentage to decimal

To find a certain percentage of a number, we convert the percentage to a decimal. 115% is equal to $\frac{115}{100}=1.15$, not 0.115.

Step2: Calculate the correct selling - price

The correct calculation should be ($10)(1.15) = $11.5.

Answer:

The owner should have multiplied by 1.15.