Consider the following scenario containing a misuse of percentages. Then answer

Question

Consider the following scenario containing a misuse of percentages. Then answer the following questions about the way in which percentages are misused. Suppose that you are the owner of a local sandwich shop. Your supplier of bread has increased its wholesale price by 10 percent, your supplier of condiments has raised prices by 10 percent, and your supplier of meats and vegetables has raised prices by 10 percent. Suppose these are your only supplies. Therefore, you decide to raise your sandwich prices accordingly. If you wish to maintain the same level of profit given the increases in your supply prices, you should increase your sandwich prices by what percentage? S percen O30 percent 100 percent ( 20 percent 10 percent In general, you add percentages as you would add cadinal numbers

Explanation / Answer

Let the old cost of bread be b

Let the old cost on condiments be c

and the old cost of meat and vegetables be m

Total cost of sandwich = b + c + m

New cost of bread = 1.1b

new cos of condiments = 1.1c

new cost of meat and vegetables = 1.1m

new total cost = 1.1b + 1.1c + 1.1m

new total cost = 1.1(b + c + m)

new total cost = 1.1 old cost

percentage increase = 10 %

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