Question

A store buys coffee beans at $5.50 per pound. They charge 80% more than their purchased price when they sell the beans to customers. What is the price per pound of the beans they sell?

Answer 1

Purchased price of the coffee bean = $5.50

Store sells it = $5.50 + 80% of $5.50

We added 80% of $5.50 because of the phrase "more than" which means addition.

To get the price of the beans when sold in the store, let's solve first 80% of $5.50.

Percentage = ???

Rate = 80% or 0.80

Base = $5.50

$\begin{gathered} \text{Percentage}=Base\times Rate \\ \text{Percentage}=5.50\times.80 \\ \text{Percentage}=4.40 \end{gathered}$

Therefore, 80% of $5.50 = $4.40.

Since it is mentioned that the store will sell the beans 80% more than the purchase price, the selling price of the bean will be $5.50 + $4.40 and this is equal to $9.90.