Casey buys and sells used books at his bookstore. He prices all of his used books with a 50% gross profit margin. To do so, he uses the equation: p = 1.5c, where p is price and c is cost. Is this correct? explain.

Question

Mathematics

Layla

11 February, 07:04

Casey buys and sells used books at his bookstore. He prices all of his used books with a 50% gross profit margin. To do so, he uses the equation: p = 1.5c, where p is price and c is cost. Is this correct? explain.

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Answers (1)

Know the Answer?

Baylee Curtis · Answer 1

Yes

Step-by-step explanation:

Hi, the expression is correct.

Since she wants to price (p) her used books with a 50% gross profit, to do this she has to multiply the cost of the books (c) by a percent increase (1 + %/100).

So, for a 50% gross

p = (1 + 50/100) c = (1 + 0.5) c

p = 1.5c

Feel free to ask for more if needed or if you did not understand something.