Math Problem Statement

How much should a food manufacturer sell pound of canned meat if his cost is P30 per can and he wants to make a 20% profit on the selling price for after giving away an 8% discount?

Solution

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Math Problem Analysis

Mathematical Concepts

Algebra
Profit and Loss
Percentage
Discount

Formulas

Discounted Price = Selling Price - (Discount Percentage * Selling Price)
Profit = (Selling Price - Cost Price) / Selling Price
Selling Price = Cost Price / (Discounted Price * (1 - Profit Margin))

Theorems

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Suitable Grade Level

Grades 9-12