Smoothie Stand at Utah’s Wasatch County’s Demolition Derby sells bananas. If John bought 55 lbs. of bananas at $.24 per pound expecting 10% to spoil, how should he price his bananas to achieve 59% on selling price?
Accepted Solution
A:
I'm assuming the 59% achievement means, markup, so hmmmm well, if the bananas cost him $0.24 or 24cents per pound, so a markup of 59% is just 59% of 0.24 then.
whatever% of anything is just (whatever/100) * anything.
therefore, 59% of 0.24 is just (59/100) * 0.24, or 0.1416.
so, if we add 0.1416 to the 0.24, the selling price will be 0.3816, or just 38cents per pound of bananas.