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A store buys 30 gallons of milk a cost of 1.58 per gallon The owner anticipates a 15 spoilage rate In order to achieve a 20 markup based on selling price what should be the selling price per gallon?
Wiki User
∙ 14y ago
15% spoilage is 4.5 gal, so for 20% markup, price should be $2.23 per gal. But, if bought in gallon containers, you can't have only .5 gal of spoilage, therefore you have 5 gal of spoilage, so you need to charge $2.28 per gallon IMPROVED ANSWER: The correct answer is $2.23 per gal because 2.28 was not included in the multiple choice answer, see figures below: 30 gallons x 1.58 = 47.40 47.40 + .20(47.70)= 47.40 + 9.48 (total dollar markup) = $56.88 Total Selling Price 30 gallons x .15 = 4.5 gallons 30 gallons - 4.5 gallons = 25.50 gallons 56.88/25.50 gallons = $2.23 per gallon
Wiki User
∙ 14y ago
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Every week a grocery store buys 30 gallons of milk at a cost of58 a gallonThe store owner anticipates a 15spoilage rateIn order to achieve a 20 markup based on the selling pricewhat should the s?
rounding the answer to the nearest cent you would get $2.32 for the answer
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Every week a grocery store buys 30 gallons of milk at a cost of58 a gallonThe store owner anticipates a 15spoilage rateIn order to achieve a 20 markup based on the selling pricewhat should the s?
rounding the answer to the nearest cent you would get $2.32 for the answer
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