Solve the problem. Round dollars to the nearest cent and rates to the nearest tenth of a percent.
-Toys4U purchases tricycles for $26. The store's operating expenses are 20% of cost with a net profit of 11% of cost. Find the selling price of one tricycle.
A)$34.06
B)$17.94
C)$23.66
D)$28.34

Question

Quizplus · Accepted Answer

Operating expenses = 20% of $26 = $5.20
Total cost = $26 + $5.20 = $31.20
Net profit = 11% of $31.20 = $3.43
Selling price = $31.20 + $3.43 = $34.06, rounded to the nearest cent. Therefore, the best choice is A.

Solve the Problem