Question

The owner of a furniture store is planning on selling a holiday sale. A five piece dining room set is a main item. He brought the set for 1,000 whole sell and set the retail price at 2,000 if he wants to make atleast 25% profit when selling. What's the lowest amount he can set the sale price at? I needed to know how to work the problem not the answer. Email at ttryels32@gmail.com if you can help

Answer 1

So, profit is the amount above the price he bought at that he will be paid. i.e., it is the difference between the amount he was paid for it and the amount he paid for it. If you find what 25% of 1000 is, that's the profit he wants, and then you can figure out the sale price that that calculates to.