Multiple choice

A certain appliance costs a merchant $ $30$. At what price should the merchant sell the appliance in order to make a gross profit of $50$ percent of the cost of the appliance?

  1. $ $48$
  2. $ $45$
  3. $ $46.25$
  4. $ $38$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Cost = 30. Profit = 50% of 30 = 15. Selling price = Cost + Profit = 30 + 15 = 45.

AI explanation

Using the gross profit formula, the required gross profit is 50 percent of the 30 dollar cost, which equals 15 dollars. The selling price is calculated by adding this 15 dollar profit to the 30 dollar cost. Therefore, the merchant should sell the appliance for 45 dollars.