At the sweater store, the price of a sweater is 20% more than the wholesale cost, plus a markup of eight dollars. Find a rule for a linear functions that describes the price of the sweaters at the Sweater Store. Use it to determine the price of sweaters with the wholesale cost of $24.50
If w is the wholesale cost, then
Price = 1.2w + 8
replace w with 24.5 and evaluate to get Price
To find a rule for a linear function that describes the price of the sweaters at the Sweater Store, we need to break down the information given in the problem.
Let's start by defining the variables:
Let "P" represent the price of the sweater.
Let "C" represent the wholesale cost of the sweater.
According to the problem, the price of the sweater is 20% more than the wholesale cost, plus a markup of eight dollars. We can express this relationship using the following formula:
P = 1.20C + 8
The 1.20 represents the 20% increase in price, and the 8 represents the additional markup. Adding these two amounts will give us the total price of the sweater.
Now, to determine the price of sweaters with a wholesale cost of $24.50, we can substitute the value of C into the formula:
P = 1.20(24.50) + 8
Calculating this expression gives us:
P = 29.40 + 8
P = 37.40
Therefore, the price of sweaters with a wholesale cost of $24.50 is $37.40.
In summary, the rule for the linear function that describes the price of the sweaters at the Sweater Store is P = 1.20C + 8, where P is the price of the sweater and C is the wholesale cost.