Problema Solution
The cost of making a single product id $50.20, For each unit made, the company wants to make a profit that is equal to 20% of the selling price (the price it is sold for, P) Determine the price at which each product should be sold.
Answer provided by our tutors
The price at which each product should be sold is P
So the equation is
P - 20%P = 50.20
P = 62.75
So the price at which each product should be sold is $62.75