Question

A merchant sold a pen for $5.35 thereby making a profit of 7% on the cost to him. Calculate (a) the cost price of the pen to the merchant (b) The selling price the merchant should request in order to make a profit of 15% *

Answer 1

a) if the cost after a 7% markup is $5.35, that means

1.07x = 5.35
Solve for x to get the original price

b) to get a 15% profit, multiply x by 1.15