Question

If a ring costs a jeweler \( \$ 1400 \), at what price should it be sold to yield a profit of \( 50 \% \) on the selling price? \$ \( \square \)

Ask by Moreno Ford. in the United States
Jan 24,2025

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Answer

The ring should be sold for \$2,800 to achieve a 50% profit on the selling price.

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Beyond the Answer

To calculate the selling price that will yield a profit of \( 50 \% \) on the selling price, let's denote the selling price as \( x \). The jeweler needs to cover the cost of the ring, which is \( \$ 1400 \), and make a profit that is \( 50 \% \) of \( x \). This means the equation can be set up as follows: \( 1400 = x - 0.5x \) This simplifies to: \( 1400 = 0.5x \) Now, solving for \( x \): \( x = \frac{1400}{0.5} = 2800 \) Therefore, the ring should be sold for \( \$ 2800 \) to yield a profit of \( 50 \% \) on the selling price.

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