Word problems

Question

If Bob sells a widget for 10.00$ and he makes a 5% profit, what would Bob need to sell the widget for if he wants to make a 10% profit 

Answer 1

At price = $10, Bob makes a 5% profit of 50 cents

profit = revenue - cost. cost = $9.50

At price = $10.50, profit = $1. 1/10.5 = about 9.5%

at price = $11 profit = $1.50 1.5/11 = about 13.6%

at price = $10.75, profit = $1.25. 1.25/10.75= 11.6%

at price = $10.70, profit =$1.20. 1.2/10.7 = 11.2%

at price = $10.60, profit = $1.10. 1.1/10.6 = 10.4%

at price = $10.65 profit = $1.15. 1.15/10.65 = 10.8%

at price = $10.55, profit = $1.05. 1.05/10.55 = 9.95%

at price = $10.56, profit = $1.06. 1.06/10.56 = 10.04%