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math

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if a grocery store buys 30 gallons of milk at a cost of $1.58 per gallon, he anticipates a 15% spoilage rate , to achieve a 20% markup based on selling price what should it be

I say $ 2.19 per gallon

  • math -

    The cost of the milk to the store is

    30 x $1.58 = $47.40

    To recover the cost of the milk if 15% lost then the cost per gallon is

    $47.40/25.5 = $1.86 per gallon

    $1.86/0.80 = $2.35 per gallon

    which is %20 markup based on selling price.
    20% markup of cost will give a different result.

    ...check my maths though!

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