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The problem is asking for the selling price of a product, given the cost to a retailer and the desired profit margin. Here's how we solve it:

### Given:
- **Cost price** = $3.40
- **Profit margin** = 20% of the selling price

Let the selling price be **S**.

### Step-by-step solution:

1. Profit is 20% of the selling price, so:
   \[
   \text{Profit} = 0.20 \times S
   \]
   
2. The selling price is the sum of the cost price and the profit, so:
   \[
   S = 3.40 + 0.20 \times S
   \]

3. Now, solve for **S**:
   \[
   S - 0.20S = 3.40
   \]
   \[
   0.80S = 3.40
   \]
   \[
   S = \frac{3.40}{0.80} = 4.25
   \]

### Final answer:
The product should be sold at **$4.25**.

Would you like more details on any step or have any questions?

### Related questions:
1. What if the retailer wanted a profit of 30% on the selling price instead?
2. How would the selling price change if the cost was $5.00 but the profit margin remained the same?
3. What if the retailer wanted a profit of 20% on the **cost price** instead of the selling price?
4. How do you calculate the percentage increase when you know the cost and selling price?
5. What is the formula for determining the selling price if the desired profit is based on cost?

### Tip:
Always ensure you know whether the profit is based on the **cost price** or the **selling price** before solving the problem. This affects the calculations!

The cost of a product to a retailer is $3.40. If the retailer wishes to make a profit of 20% on the selling price, at what price should the product be sold?

Learn how to determine the selling price of a product costing $3.40 with a 20% profit margin on the selling price. This problem covers key algebraic concepts, including profit calculation and percentage formulas, suitable for Grades 7-9.

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