A retailer has some toe rings that cost him $5 each. He wants to sell them at a profit of 40% of the cost. What should be the selling price of the toe rings?
A) $10.00
B) $7.00
C) $2.00
D) $9.00
E) none of these

Question

Quizplus · Accepted Answer

The profit is 40% of the cost, so the profit per toe ring is 0.40 * $5 = $2. The selling price is the cost plus the profit, which is $5 + $2 = $7.

A Retailer Has Some Toe Rings That Cost Him $5