A convenience store owner needs to set the regular price for one gallon of 2% milk. He is going to run a "30% off sale" later in the week on this product. The sale price will be $2.53 per gallon. Find the regular price that the owner should charge for the milk. Round to the nearest hundredth.
.70 p = 2.53
p = 3.61
To find the regular price for one gallon of 2% milk, we can use the information given about the "30% off sale" and the sale price.
Let's assume the regular price is represented by "x".
During the sale, the price will be discounted by 30%. This means the sale price will be 70% (100% - 30%) of the regular price. Mathematically, we can write this as:
Sale price = 70% of x
$2.53 = 0.70x
To find the value of x (the regular price), we need to solve the equation.
Dividing both sides of the equation by 0.70, we get:
$2.53 / 0.70 = x
x ≈ $3.61
Therefore, the regular price that the owner should charge for one gallon of 2% milk is approximately $3.61, rounded to the nearest hundredth.