Question

Kendan produces a metal oil pan for a cost of $12.97. To make a profit of $4.98, at what price should it be sold

Answer 1

$17.95

Explanation:

It costs Kendan $12.97 to make a pan.

We want a profit of $4.98.

First, we have to break even with our cost ($12.97) then make money ($4.98).

To find the price at which the pans must be sold to make a profit of $4.98, just add $12.97 and $4.98.

$12.97 + $4.98 = $17.95