Business Math

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Every week, a grocery store buys 30 gallons of milk at a cost of $1.58 per gallon. The store owner anticipates a 15% spilage rate. To achieve a 20% markup based on cost, what should be the selling price per gallon? Round to nearest cent.

  • Business Math -

    1.58 * 1.15 = 1.817

    1.817 * 1.2 = $2.18

  • Business Math -

    what do u multiply 1.817*1.2?

  • Business Math -

    $2.18 isnt a choice.
    Choices are:
    A) $1.66
    B) $1.98
    C) $2.23
    D) $2.32

  • Business Math -

    30 gals. with 15% spoilage=4.5 gals.profit(30x1.58)x1.2=56.88 gals.xpricexcost+20%56.88./.25.5gals.=markupfor remaining gals. no-2.23 round 5gals.spoiled 56.88./.25=2.28 not it so round off 4gals. 56.88./.26=$2.1876 or $2.19

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