Question

Assumed that you need to supply a school canteen of bottled mineral water, 500 ml with a cost of P6.50/bottle, how do you determine the price per bottle? Explain your answer by showing your computation​

Answer 1

Based on the cost of the bottle, the price of the bottle can be determined by a markup percentage.

What is a markup percentage?

In order to determine the price of the bottle, you should use a markup percentage which will be based on your required profit level.

For instance, if you want to make a 40% profit on the cost then use a 40% markup to find the price as:

= Cost of bottle + (Cost of bottle x 40%)

Solving gives:

= 6.50 + (6.50 x 40%)

= $9.10

In conclusion, use a markup percentage.

Find out more on markup percentages at https://brainly.com/question/5189512.