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A grocery store purchased 200 pounds of grapes at 0.60 per pound experience sHow is that 10 percent of the grapes will spoil at what price per pound would the store make 15 percent markup on cost?
Chewatts
.77 per pound.
Total cost = 200 pounds x .60 per pound = 120
Total pounds of grapes available for sale = (200 - (200 x .10 spoilage)) = 200 - 20 = 180
15 percent markup on cost = total cost x 1.15 or (total cost + (total cost x 15 percent)) = 120 x 1.15 = 138
Total markup price divided by total pounds of grapes = price per pound
138/180 = .766666 = .77
Wiki User
∙ 14y ago
If 10% of the grapes spoil, the store is left with 180 pounds. To calculate the markup price per pound, we first determine the cost of the 180 pounds of grapes. Therefore, the store would need to sell the grapes at $0.77 per pound ($0.60 x 1.15) to achieve a 15% markup on cost.
Wiki User
∙ 14y agototal cost = 200*0,6=120 final price=120*1,15=138 price per pound=138/180=0,77 per pound
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