Question

If the ratio for unit cost to sales price for a product is 1:4, how much would the selling price be for a product if it has a unit cost of $33.85

Answer 1

Ratio and proportion is a useful method in determining a value using a known constant in ratio form. In this case, the ratio of cost to price is always 1/4. Hence, the solution goes as follows:

1/4 = 33.85/price
Price = 33.85*4
Price= $135.4